Question

Q15
On the Balance sheet date, Non monetary items will be carried
O Cost or Market Price, whichever is less
O Market Rate
O Closing Rate
O Historical Rate​

Answer 1

Answer:

the foreign currency monetary items must be recorded at the closing rate on the balance sheet date. ... non monetary items that are carried at historical cost expressed in foreign currency must be reported at an exchange rate that prevails at the date of such a transaction

Answer 2

Answer:

, options d Historical Rate