AASB 121 requires foreign currency monetary items that are expected to be settled in the short term to be translated at the spot rate at reporting date, but does not require this treatment for long-term monetary items denominated in foreign currencies:
FALSE

Question

Quizplus · Accepted Answer

The Answer of AASB 121 requires foreign currency monetary items that are expected to be settled in the short term to be translated at the spot rate at reporting date, but does not require this treatment for long-term monetary items denominated in foreign currencies:
FALSE

AASB 121 Requires Foreign Currency Monetary Items That Are Expected