- This topic has 1 reply, 2 voices, and was last updated 7 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
In relation to IAS 21, which of the following statements are true
i) Exchange gains and losses arising on retranslation of monetary items are recognized in other comprehensive income in the period
ii) Non monetary items measured at historical cost in foreign currency are not retranslated at reporting date
iii) An intangible asset is a non monetary item
Sir corrrect ans is ii and iii
But can you please explain me that why i is not true , and why ii is true?
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.