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40. Income and expenses for each statement presenting profit or loss and other comprehensive income shall be translated at: \begin{tabular}{|l|l|} \hline A & Closing rate of that statement of financial position \\ \hline B & Exchange rate at the date of transaction. For practical reason, an average rate for the period \\ \hline C & Functional rate \\ \hline D & None of the above \\ \hline \end{tabular} 23. The interest cost in relation to a defined benefit plan arises because the accumulated benefits which employees had earned at the end of the previous period are now one period closer to being paid. True or False \begin{tabular}{|l|l|} \hline A & True \\ \hline B & False \\ \hline \end{tabular} 24. An employer's statement of financial position should show a liability equal to the expected amount payable in the following 12 months as a result of unused entitlement to non-accumulating short-term paid absences. True or False? \begin{tabular}{l|l} A & True \\ \hline B & False \\ \hline \end{tabular} 25. Redundancy payments to employees should be recognised as an expense in the employer's statement of comprehensive income as soon as the employer is considering making those employees redundant. True or False? 26. An employer's statement of financial position should show a liability equal to the expected amount payable in the following 12 months as a result of unused entitlement to non-accumulating short-term paid absences. True or False? \begin{tabular}{l|l} A & True \\ \hline B & False \\ \hline \end{tabular}

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