Question: Which one is not correct? A. Monetary items are translated at closing rate at reporting date. B. Translation gains or losses are recognized in profit

Which one is not correct?

A.

Monetary items are translated at closing rate at reporting date.
B.

Translation gains or losses are recognized in profit or loss for monetary items.
C.

Monetary items and non-monetary items are initially recognized at spot rate at transaction date.
D.

Amounts pre-paid for goods and services are example of monetary items.

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