d. All of these options should be considered. (9) When translating into the functional currency, monetary liabilities are translated us- ing the: a. exchange rate prevailing at the end of the last reporting period. b. exchange rate current at the date the item was first recorded. c. exchange rate current at end of reporting period. d. closing exchange rate. (10) According to AASB 121 The Effects of Changes in Foreign Exchange Rates, the cur