If the Assets of a Foreign Operation Exceed Its Liabilities,and

question 20

Multiple Choice

If the assets of a foreign operation exceed its liabilities,and the value of the Australian dollar falls relative to the currency of the foreign operations,there will be:

• A) a credit to the 'foreign currency translation reserve' in the consolidated accounts.
• B) a debit to the 'foreign currency translation reserve' in the consolidated accounts.
• C) a credit to 'foreign currency translation revenue' in the consolidated accounts.
• D) a debit to the 'foreign currency translation expense' in the consolidated accounts.

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