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

question 28

Multiple Choice

Under the translation method required by AASB 121,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:

Cognitive-developmental View

A perspective in psychology that focuses on how cognitive abilities change and evolve with age, influenced by the work of Jean Piaget.

Lawrence Kohlberg

A psychologist known for his theory on the stages of moral development, emphasizing the progression of ethical reasoning.

Gender Typing

is the process by which children acquire the behaviors, values, and attitudes considered appropriate for their gender within their culture.

Permissive

A parenting or leadership style characterized by low demands with high responsiveness, where rules are minimal and children are allowed considerable freedom.