Asked by
Prasidha Parmar
on Nov 02, 2024
Verified
The exchange rate used at the end of the reporting period is:
A) the spot rate.
B) the closing rate.
C) the ending rate.
D) the indirect rate.
Spot Rate
The current market price at which a particular asset can be bought or sold for immediate delivery.
Closing Rate
The spot exchange rate at the end of the reporting period.
- Ascertain the impact of currency exchange rate movements on foreign monetary items at the points of transaction, financial reporting, and settlement.
Verified Answer
AW
Learning Objectives
- Ascertain the impact of currency exchange rate movements on foreign monetary items at the points of transaction, financial reporting, and settlement.
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