Question: ABC Ltd, whose functional currency and presentation currency is S$, buys RM100 million of a Malaysian companys shares on 1 October 20x8 when the exchange

ABC Ltd, whose functional currency and presentation currency is S$, buys RM100 million of a Malaysian companys shares on 1 October 20x8 when the exchange rate was RM1.00 = S$0.40. On 31 December 20x8, the fair value of the shares is RM120 million and the exchange rate was RM1.00 = S$0.30. ABC Ltd has elected to account for the shares at fair value through other comprehensive income. In ABC Ltds 20x8 financial statements, the Mark-to-market gain and Exchange loss should be respectively:

None of the listed choices.

S$6 million and S$12 million.

S$6 million and S$10 million.

S$8 million and S$10 million.

S$8 million and S$12 million.

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