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/IAS 21 The Effects of Changes in Foreign Exchange Rates requires disclosures about the translation of financial statements into other currencies.
Correct Answer:
Verified
Q20: If foreign currency denominated non-monetary assets are
Q21: Gairdner Limited has the following items in
Q22: Translating from the functional currency to the
Q23: When translating into the presentation currency, all
Q24: Which of the following must be disclosed
Q26: Under AASB 121/IAS 21 The Effects of
Q27: Dividends declared are translated into the presentation
Q28: If a reporting entity establishes a foreign
Q29: When translating from the functional currency into
Q30: Exchange differences arising when translating from the
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