Which of the Following Statements Is Incorrect

question 26

Multiple Choice

Which of the following statements is incorrect?

• A)Movements in the foreign currency translation reserve must be disclosed.
• B)Exchanges differences included in profit or loss must be disclosed.
• C)There is no need to disclose if the presentation currency is different from the functional currency.
• D)AASB 121 The Effects of Changes in Foreign Exchange Rates requires disclosures about the translation of financial statements into other currencies.

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Definitions:

Avoidance

A behavior or action taken to escape from or prevent an unpleasant situation or outcome.

Reappraisal

A cognitive process in which an individual changes their interpretation of a situation in order to alter its emotional impact.

Health Psychology

The subfield within psychology that is concerned with the psychological factors that contribute to health, illness, and recovery.

Physical Activities

Bodily movements produced by skeletal muscles that require energy expenditure, including exercises and daily activities.