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:

Semicircular Canals

Semicircular canals are three fluid-filled tubes located in the inner ear that play a key role in maintaining balance and spatial orientation by detecting rotations of the head.

Nociceptors

Sensory receptors that send signals to the brain in response to potentially harmful stimuli, causing the perception of pain.

Endorphins

Natural chemicals produced in the brain that act as painkillers and mood enhancers, often released in response to stress or physical activity.

Olfactory Receptors

Olfactory receptors are specialized nerve cells responsible for detecting odors and initiating the sense of smell.