Apart from Some Limited Exceptions,AASB 121 Requires That Exchange Differences

Multiple Choice

Apart from some limited exceptions,AASB 121 requires that exchange differences on monetary items shall be:

A) deferred and recognised when the associated asset or liability is realised or settled.
B) treated as a reserve or provision against the associated monetary item.
C) not recognised in the accounts until the monetary asset is received or monetary liability settled.
D) recognised as income or an expense in the reporting period in which the exchange rates change.