Question: ABC Ltd, whose functional currency and presentation currency is S$, buys a piece of land in Malaysia for RM500 million on 4 April 20x8 when

ABC Ltd, whose functional currency and presentation currency is S$, buys a piece of land in Malaysia for RM500 million on 4 April 20x8 when the exchange rate was RM1.00 = S$0.50. The fair value of the land was RM600 million on 31 December 20x8. The exchange rate on 31 December 20x8 was RM1.00 = S$0.45. ABC Ltds accounting policy was to carry land at the revalued amount. In ABC Ltds 20x8 financial statements, the Land and Exchange loss should be respectively:

Group of answer choices

None of the listed choices.

S$300 million and S$25 million.

S$270 million and S$30 million.

S$270 million and S$25 million.

S$300 million and S$30 million.

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