It’s time to put what you’ve learned to the test, get 3 questions right to pass this unit.
Q1.
You are building a method to translate Canadian local currency values to your group currency. Which of the following describes historic currency translation?
There are 3 correct answers.
A
Historic items include investment and equity data.
B
Opening balances are re-translated.
C
Opening balances are populated via balance carryforward typically.
When you run currency translation, small rounding differences are generated. Rounding methods control target FS items for the differences. You must use both selection objects in a currency translation rounding method.
Choose the correct answer.
A
True
B
False
Q3.
You need to translate current-month data using last years exchange rates. In order to perform a currency simulation, you must create a new method.