The Following Items Are in the Financial Statements of Pirie

question 78

Multiple Choice

The following items are in the financial statements of Pirie Ltd as at 30 June 2015. $$\begin{array} { | l | l | } \hline \text { I } & \text { Foreign currency accounts receivable } \\\hline \text { II } & \text { Foreign currency long-term debt } \\\hline \text { III } & \text { Machinery measured in foreign currency-at cost } \\\hline \text { IV } & \text { Inventories measured in foreign currency } \\\hline\end{array}$$ Which of the following combinations identify all items required to be translated at spot rate on 30 June 2015 as prescribed in AASB 121 The Effects of Changes in Foreign Exchange Rates?

• A) I and II
• B) II and III
• C) II and IV
• D) III and IV

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Definitions:

Consumerism

The promotion of the consumer's interests, emphasizing the importance of consumption and acquisition of goods.

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The unauthorized use of a trademarked name or logo, which violates the rights of the trademark owner.

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Information presented on food packaging that outlines the nutrients found in the food, such as calories, fats, vitamins, and minerals.