All the following items are 'monetary items' according to AASB 121 except:
A)trade payable of ₤50 000.
B)borrowings €30 000.
C)shares held in BHP Ltd listed on the ASX.
D)trade receivable of US$12 000.

Question

Quizplus · Accepted Answer

Shares held in BHP Ltd listed on the ASX are not considered monetary items as their value is subject to market fluctuations and not a fixed amount of currency. All other options are monetary items as their values are fixed in a specific currency.

All the Following Items Are 'Monetary Items' According to AASB