Which of the following statements is true? A) None of theothers B) A foreign exchange gain arising
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Question:
Which of the following statements is true?
A) None of theothers
B) A foreign exchange gain arising from translating financial statements should always be recorded as revenue.
C) The translation gain or loss on a foreign operation using the current rate method represents the effect of exchange rate movements on net assets.
D) The term 'foreign currency transaction' refers to a transaction denominated in a currency other than Australian dollars.
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