Under the Translation Method Required by IAS 21,the Approach to Translating

question 19

Multiple Choice

Under the translation method required by IAS 21,the approach to translating a foreign operation's financial statements includes:

• A)translating monetary items at the closing rate of exchange .
• B)translating non-monetary assets at the average exchange rate since the date of purchase of the asset.
• C)translating transfers of post-acquisition equity items within the equity category at the rate of exchange current at the date the original equity item was first included in equity.
• D)translating revenues and expenses at the average rate of exchange applied to equity items.