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.

---

Definitions:

Community Colleges

Educational institutions that provide two-year academic and vocational programs, often serving as a more accessible and affordable option for higher education.

Immediate Repair

The quick correction of a mistake or misunderstanding in conversation, usually by the person who made the error.

Latent Function

Unintended, unrecognized consequences of actions that help a social system maintain equilibrium.

Educational Institutions

Places where educational services are provided, ranging from schools and colleges to universities, involved in imparting knowledge, skills, and academic qualifications.