The Following Is an Extract from the 'Notes to the Accounts

question 30

Multiple Choice

The following is an extract from the 'Notes to the Accounts' explaining the foreign currency translation reserve.

What are the rates represented by (a) and (b) ?

• A) (a) Current; (b) Spot.
• B) (a) Historical; (b) Current.
• C) (a) Current; (b) Historical.
• D) (a) Spot; (b) Current.
• E) (a) Forward; (b) Historical.

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Definitions:

Principal

Principal refers to the original sum of money loaned or invested, before interest, or the main party to a transaction or agreement.

Damages

A sum of money awarded in compensation for loss or injury caused by the wrongful act of another party.

Agent

A person or entity authorized to act on behalf of another person or entity in business transactions or legal matters.

Motor Parts

Motor parts encompass all components and accessories used in the construction, repair, and maintenance of vehicles, including engines, transmissions, brakes, and electrical systems.