B (ii) and (iii) only
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter8: Investing Activities
Section: Chapter Questions
Problem 14QE
Related questions
Question
In relation to IAS 21 The Effects of Changes in Foreign Exchange Rates, which of the following statements are true?
-
(i) Exchange gains and losses arising on the retranslation of monetary items are recognised in other comprehensive income in the period.
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(ii) Non-monetary items measured at historical cost in a foreign currency are not retranslated at the reporting date.
(iii) An intangible asset is a non-monetary item.
-
A All of the above
-
B (ii) and (iii) only
-
C (i) and (iii) only
-
D (i) and (ii) only
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