Under the Translation Method Required by AASB 121,the Approach to Translating

question 31

Multiple Choice

Under the translation method required by AASB 121,the approach to translating a foreign operation's accounts includes:

• A) translating post-acquisition changes in equity at the exchange rate current at the date of the change.
• B) translating non-monetary assets at the spot exchange rate at the date of the purchase transaction.
• C) translating revenue and expense items at the average rate for the period where the revenues and expense transactions have been evenly distributed over the period.
• D) translating proposed distributions from retained profits at the exchange rate current when the distributions are completed in cash.

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Definitions:

Sense of Play

A mindset that encourages spontaneity, creativity, and enjoyment in activities.

Territoriality

Study of how animals and humans use space and objects to communicate occupancy or ownership of space.

Proxemics

The study of how human beings use and perceive the physical space around them, particularly in relation to personal space and territory.

Nonverbal Behavior

Actions or expressions that convey messages without the use of spoken words, including gestures, facial expressions, and body language.