When Translating the Revenue and Expenses in the Statement of Profit

question 16

Multiple Choice

When translating the revenue and expenses in the statement of profit or loss and other comprehensive income, theoretically each item of revenue and expense should be translated using the spot exchange rate between the:

• A) functional currency and the foreign currency on the reporting date;
• B) presentation currency and the functional currency on the reporting date;
• C) functional currency and the foreign currency on the date the transaction occurred;
• D) presentation currency and the local currency on the transaction date.

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Definitions:

FR(N)

A notation often used in reliability engineering to refer to failure rate functions.

MTBF

Mean Time Between Failures, a reliability metric that denotes the average time between failures of a system or component.

Product Reliability

The likelihood that a product will not fail within a specific period under specified conditions.

Registration

The process of officially recording or enrolling something or someone in a list, database, or system, often for legal, official, or regulatory purposes.