Under IFRS 8,at which exchange rate should monetary assets and liabilities be translated?
A)The exchange rate at the statement of financial position date
B)The closing rate
C)The historical rate
D)The fair value rate

Question

Quizplus · Accepted Answer

Monetary assets and liabilities should be translated at the exchange rate at the statement of financial position date as per IFRS 8.

Under IFRS 8,at Which Exchange Rate Should Monetary Assets and Liabilities