As Prescribed in IAS 21,when Re-Measuring Financial Statements of Foreign

question 26

Multiple Choice

As prescribed in IAS 21,when re-measuring financial statements of foreign operations to presentation currency,which of the following identifies all items to be remeasured at historic rates?

• A)cash, accounts receivable and accounts payable
• B)inventory, goodwill, property plant and equipment
• C)accounts payable, unearned revenue and note payable
• D)gain on sale of non-current assets, dividend revenue and dividends paid

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Definitions:

Erect Posture

A body position where the spine is aligned and upright, promoting optimal physiological functioning.

Wide Base

A term referring to a stance or structure that is wider at the base, often implying greater stability or support.

Isokinetic

Pertaining to muscle contractions that occur at a constant speed across the entire range of motion.

Specialized Apparatuses

Equipment designed for specific tasks or functions, often used in technical or medical contexts.