Subtract $\begin{array} { c } 53.65 \\- 8.54 \\\hline\end{array}$ A)5511
B)

question 167

Multiple Choice

Subtract:
$\begin{array} { c } 53.65 \\- 8.54 \\\hline\end{array}$

• A)55.11
• B).4511
• C)45.11
• D)62.19

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Definitions:

Closing Rate

The spot exchange rate at the end of the reporting period.

Functional Currency

The currency of the primary economic environment in which an entity operates, typically used in its financial reporting.

Foreign Currency Transaction

A transaction that is denominated or requires settlement in a foreign currency.

Denominated

Indicates the unit of currency in which a financial transaction or instrument is specified.