All the following items are 'monetary items' according to AASB 121/IAS 21 except:
A) trade payable of ₤50 000.
B) borrowings €30 000.
C) shares held in BHP Ltd listed on the ASX.
D) trade receivable of US$12 000.

Question

Quizplus · Accepted Answer

Shares held in a company are considered as equity instruments and not monetary items according to AASB 121/IAS 21. Trade payable, borrowings and trade receivables are monetary items because their values are fixed in terms of currency and represent amounts of money to be received or paid.

All the Following Items Are 'Monetary Items' According to AASB