Ozzie Ltd Has Control Over Islander Ltd $\quad$ NZ $\$ 1.00 = A \$ 1.00$

question 19

Multiple Choice

Ozzie Ltd has control over Islander Ltd.The functional currency of Islander Ltd is the NZ$.On 31 May 20X1 Islander Ltd borrowed NZ$15 million.Ozzie Ltd uses the A$ as its presentation currency.The following spot rates applied.
On 31 May 20X1 $\quad$ NZ $\$ 1.00 = A \$ 1.00$
1 July 20X4 $\quad$ NZ $\$ 1.00 =$ AS0.95
30 June 20X5 $\quad \mathrm { NZ } \$ 1.00 = \mathrm { A } \$ 0.90$
-At what amount will the loan be reported in Ozzie's consolidated financial statements for the reporting period ending 30 June 20X5?

• A)$15 000 000
• B)$14 250 000
• C)$15 789 474
• D)$13 500 000

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Definitions:

Distal Convoluted Tubules

A portion of the nephron in the kidney where fine tuning of salt and water reabsorption and secretion occurs, aiding in urine formation.

Sympathetic Stimulation

Activation of the sympathetic nervous system, leading to increased heart rate, blood pressure, and energy mobilization.

Renal Flow

The rate of blood flow through the kidneys, essential for the filtration of blood.

Filtration Rate

The speed at which substances are filtered, usually referencing the glomerular filtration rate in the kidneys.