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New Jersey Ltd operates a wholly owned subsidiary in The Bahamas. In the translation process from functional currency to the presentation currency: a. the translation
New Jersey Ltd operates a wholly owned subsidiary in The Bahamas. In the translation process from functional currency to the presentation currency:
a. the translation difference is recognised in retained earnings
b. the translation difference is recognised in profit or loss for the period
c. the translation difference is recognised as a separate component of equity
d. the translation difference is recognised as an asset or liability, depending on whether it is a debit or credit balance
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