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    Question

    Which Accounting Standard deals with 'The Effects of

    Changes in Foreign Exchange Rates'?
    A AS 11 Correct Answer Incorrect Answer
    B AS 12 Correct Answer Incorrect Answer
    C AS 16 Correct Answer Incorrect Answer
    D AS 22 Correct Answer Incorrect Answer

    Solution

    Accounting Standard (AS) 11, "The Effects of Changes in Foreign Exchange Rates," prescribes the accounting treatment for transactions in foreign currencies and the translation of financial statements of foreign operations.

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