As prescribed in AASB 121,translation of the accounts of foreign operations to the presentation currency requires any gains or losses on translation be taken directly to reserves.

Question

Quizplus · Accepted Answer

According to AASB 121, gains or losses on translation of the accounts of foreign operations to the presentation currency should be taken directly to reserves. Therefore, the statement in the question is true.

As Prescribed in AASB 121,translation of the Accounts of Foreign