As prescribed in IAS 21,when remeasuring financial statements of foreign operations to functional currency,which of the following identifies all items to be re-measured at historic rates?
A)cash, inventory and accounts receivable
B)payables, long-term loan and unearned revenue
C)inventory, goodwill, property plant and equipment
D)accounts receivable, accounts payable and accrued expenses

Question

Quizplus · Accepted Answer

According to IAS 21, items such as inventory, goodwill, and property plant and equipment are to be re-measured at historic rates when remeasuring financial statements of foreign operations to functional currency.

As Prescribed in IAS 21,when Remeasuring Financial Statements of Foreign