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

question 12

Multiple Choice

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

• A)Non-monetary items included in the statement of financial position are translated at the rate current at reporting date.
• B)Equity at the date of investment is translated at the rate for the when the investment was acquired.
• C)Revenue and expense items are translated at the exchange rates current at the applicable transaction dates statement of financial position.
• D)all of the given answers.

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Definitions:

Qualitative Data

Data that is descriptive and conceptual, often categorized based on qualities and characteristics that are not numerical.

Chi-squared Test

An analytical test designed to evaluate whether there's a significant discrepancy between frequencies observed and those anticipated in various categories.

Contingency Table

A table used in statistics to display the frequency distribution of variables, showing the observed number of cases in each category.

Nominal Data

Data categorized without a natural order or ranking among the categories, such as gender or race.