As Prescribed in IAS 21,in Translating the Accounts of a Foreign

question 17

True/False

As prescribed in IAS 21,in translating the accounts of a foreign operation from local currency to functional currency,the exchange rate to use for land is the exchange rate at the date of the transaction.

---

Definitions:

Mechanism

A system or structure that performs a specific function or facilitates a process.

Team Autonomy

The degree to which a team is self-directed and free to make decisions within the scope of their goals and tasks.

Hackman

Refers to J. Richard Hackman, an influential researcher in the fields of organizational behavior and team dynamics, known for his work on team effectiveness.

Quality-Control Team

A specialized group within a company or organization focused on ensuring that products or services meet established standards of quality.