Aussie Ltd Acquired 100% of Sing Sing Ltd (Sing Sing)on $\bullet$

question 14

Multiple Choice

Aussie Ltd acquired 100% of Sing Sing Ltd (Sing Sing) on 1 July 20X0.The balance sheet of Sing Sing as at 30 June 20X1 was as follows.
Balance Sheet as at 30 June 20X1

$\bullet$ Relevant exchange rates are as follows.

If the local currency of Sing Sing is Singapore dollars and the functional currency is Australian dollars,the total assets of S$1 800,000 would translate into Australian dollars as:

• A)$1 565 217.
• B)$1 488 696.
• C)$1 440 000.
• D)$1 475 410.

---

Definitions:

Additional Research

The process of seeking out more information or evidence beyond what is initially available to deepen understanding or resolve uncertainties.

Cognitive Heuristics

Human decision-making shortcuts people rely on to expedite their judgments about what to believe or what to do.

Self-Regulation

A process in which one monitors one's cognitive activities, the elements used in those activities, and the results educed, particularly by applying skills in analysis, and evaluation to one's own inferential judgments with a view toward questioning, confirming, validating, or correcting either one's reasoning or one's results.

False Positives

Instances in which a test incorrectly indicates the presence of a condition or attribute.