Under the translation method required by IAS 21,the approach to translating a foreign operation's accounts includes:
A)Non-monetary items included in the statement of financial position are translated at the rate current at reporting date.
B)Equity at the date of investment is translated at the rate for the when the investment was acquired.
C)Revenue and expense items are translated at the exchange rates current at the applicable transaction dates statement of financial position.
D)all of the given answers.

Question

Quizplus · Accepted Answer

All of the given answers are correct. According to the translation method required by IAS 21, non-monetary items included in the statement of financial position are translated at the rate current at reporting date, equity at the date of investment is translated at the rate for when the investment was acquired, and revenue and expense items are translated at the exchange rates current at the applicable transaction dates statement of financial position. Therefore, choice D is the best answer.

Under the Translation Method Required by IAS 21,the Approach to Translating