The Following Items Are in the Financial Statements of Pirie

question 10

Multiple Choice

The following items are in the financial statements of Pirie Ltd as at 30 June 2012. Which of the following combinations identify all items required to be translated at spot rate on 30 June 2012 as prescribed in AASB 112 "The effects of changes in foreign exchange rates"?

• A) I and II:
• B) II and III;
• C) II and IV
• D) III and IV
• E) I and III.

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Definitions:

Robots

Programmable machines capable of carrying out a series of actions autonomously or semi-autonomously.

Computer-Integrated Manufacturing

A system where computer technology is integrated with machinery and software in the manufacturing process to enhance productivity and efficiency.

CAD/CAM

Stands for Computer-Aided Design/Computer-Aided Manufacturing, it's a technology used for designing products and controlling manufacturing processes.

Flexible Manufacturing Systems

Systems designed to easily adapt to changes in the product being manufactured, allowing for more efficient production processes and customization.