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Under Ind AS 2 1 , The Effects of Changes in Foreign Exchange Rates, how should an entity account for a non - monetary item
Under Ind AS The Effects of Changes in Foreign Exchange Rates, how should an entity account for a nonmonetary item that is
measured at fair value in a foreign currency?
A Translate using the exchange rate at the date when the fair value was determined
B Translate using the closing rate at the end of the reporting period
C Translate using the exchange rate at the date of the initial transaction
D Translate using an average exchange rate over the reporting period
E None of the above
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