AASB 121 Requires That the Financial Report Disclose Which of the Following

question 8

Multiple Choice

AASB 121 requires that the financial report disclose which of the following?

• A)The net exchange differences recognised in OCI and accumulated in a separate component of equity.
• B)The amount of exchange differences recognised in the profit or loss for the period other than those that relate to financial instruments measured at fair value through profit or loss.
• C)Any change in functional currency and reason for change.
• D)All of the above.

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Definitions:

Genetically Identical

Describes organisms, such as twins or cells, that have exactly the same DNA.

Dizygotic Twins

Also known as fraternal twins, these are siblings born from two separate eggs fertilized by two different sperm, sharing about 50% of their DNA.

Fertilized Ova

A zygote formed when an egg cell is fertilized by a sperm, marking the beginning of embryonic development.

Germinal Period

The initial two weeks of prenatal development after conception, characterized by rapid cell division and the beginning of cell differentiation.