Yarra Manufacturing Plc Is a British Registered Entity That Has

question 24

Multiple Choice

Yarra Manufacturing Plc is a British registered entity that has a branch in Singapore,Kew Plc.The Singapore branch has a foreign operation in China.The foreign operation maintains its accounting records in Chinese yuan.The functional currency of the Chinese operation is Singapore dollar.The presentation currency of Kew Plc is British pound. At reporting date,the translation of the financial statements of the Chinese foreign operation resulted in a loss of S$6500 and the translation of the financial statements of Kew Plc to its presentation currency resulted to a gain of £4500.
Which of the following results is consistent with IAS 21 with respect to Kew Plc?

• A)Loss of S$6500 should be recognised in profit and loss.
• B)Loss of S$6500 should be recognised in comprehensive income.
• C)Gain of £4500 should be recognised in profit and loss.
• D)Gain of £4500 should be recognised in comprehensive income.

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Definitions:

Instrumental Morality

A stage in moral development where the individual's moral choices are based on the consequences or benefits of their actions to themselves.

Kohlberg

Kohlberg's theory refers to the stages of moral development in individuals, emphasizing the progression through pre-conventional, conventional, and post-conventional levels.

Egocentric Perspectives

A cognitive stance where an individual perceives the world solely from their own viewpoint, ignoring or not understanding the perspectives of others.

Middle Childhood

A developmental stage that typically refers to children aged between 6 to 12 years, where significant cognitive, emotional, and social growth occurs.