Q65
The exchange rate prevailing at a financial reporting date
A.
Closing exchange rate
AnswerB.
Opening exchange rate
C.
Fixed exchange rate
D.
Fluctuating exchange rate
Answer: Option A
Solution
Answer: Option A
Solution:
Closing exchange rate is the rate prevailing at a financial reporting date. It is the exchange rate for two currencies at the end of a period of time, such as a trading day or month.