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absolutely, or diverges.
Historic Rate
The exchange rate used to convert foreign currency transactions to the reporting currency at the date of the transaction, for accounting purposes.
Income Statement Items
Elements found in the income statement, including revenues, expenses, gains, and losses, which together determine the net income of a company.
Average Rate
The mean amount at which something can be bought or sold, calculated over a specified period or under certain conditions.
Functional Currency
The primary currency used by a business or unit in its financial statements, reflecting the main economic environment in which it operates.
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