Multiple Choice
Upon translation, assets and liabilities are translated at the _________ rate at the presentation date and income statement items are translated using the _______ rate for the period.
A) average; closing
B) closing; average
C) forward; closing
D) spot; average.
Correct Answer:
Verified
Correct Answer:
Verified
Q33: When a company selects a presentation currency
Q34: Exchange gains and losses on accounts receivable/payable
Q35: Dante Ltd. manufactures and distributes transmissions
Q36: The historical rate is the exchange rate
Q37: In order to identify the foreign exchange
Q39: When a company selects a presentation currency
Q40: What is the effect of fluctuations in
Q41: What is a currency swap an example
Q42: The exchange rate in effect at the
Q43: On January 1, 2012, Gupta Inc.