An Exception to the Requirement That Foreign Currency Monetary Items

Multiple Choice

An exception to the requirement that foreign currency monetary items should be re-translated at the reporting date is:

A) When the foreign exchange rate is considered to be undervalued.
B) When the foreign currency exchange rate is fixed for a particular transaction according to a contractual arrangement.
C) When exchange rates are expected to move in the opposite direction shortly after reporting date.
D) When the foreign exchange rate is considered to be overvalued.
E) None of the given answers.