As prescribed in AASB 121,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 AASB 121, items that should be re-measured at historic rates include all assets and liabilities, including goodwill, property plant and equipment, and inventory.

As Prescribed in AASB 121,when Remeasuring Financial Statements of Foreign