When translating foreign currency denominated financial statements into the functional currency, the exchange differences are recognised:
A) as an item of gain or loss in the statement of profit or loss and other comprehensive income;
B) directly in the retained earnings account;
C) as a deferred asset or liability;
D) as a separate component of equity.

Question

Quizplus · Accepted Answer

The Answer is A

When Translating Foreign Currency Denominated Financial Statements into the Functional