As prescribed in IAS 21,in translating the accounts of a foreign operation from local currency to functional currency,the exchange rate to use for land is the exchange rate at the date of the transaction.

Question

Quizplus · Accepted Answer

According to IAS 21, the exchange rate to use for land is the exchange rate at the date of the transaction when translating the accounts of a foreign operation from the local currency to the functional currency.

As Prescribed in IAS 21,in Translating the Accounts of a Foreign