alleryStart learning →A foreign operation's reporting date may differ from the parent's by no more than what?
AOne month
BThree months
CSix months
DTwelve months
Answer & Solution
Correct answer: B. Three months
Ind AS 110 permits a different date only if the gap is three months or less, with adjustments for significant events.
Keep practising Ind AS 21 The Effects of Changes in Foreign Exchange Rates
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Related questions
A lends to foreign subsidiary B, no settlement planned. The loan is part of:In assessing exchangeability, which is considered?Does a normal administrative delay make a currency not exchangeable?If a currency is not exchangeable, what must the entity do?How does Ind AS 21 define an exchange rate?An exchange difference arises from translating currency units at what?What are the two principal issues in Ind AS 21?Which standard covers presenting foreign currency cash flows?