At the balance sheet date,monetary items denominated in a foreign currency should be adjusted to reflect the exchange rate in effect at the:

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According to the accounting standard IAS 21, at the balance sheet date, monetary items denominated in a foreign currency should be adjusted to reflect the exchange rate in effect at the balance sheet date. This ensures that the financial statements represent a fair and accurate reflection of the company's financial position on that date. The exchange rate at the time of settlement, sale, or payment is irrelevant for accounting purposes.

At the Balance Sheet Date,monetary Items Denominated in a Foreign