Examlex
Within the instructed delegate model, elected representatives act
Closing Rate
The exchange rate used to convert foreign currency-denominated financial statements of a subsidiary into the reporting currency of the parent company at the balance sheet date.
Foreign Subsidiary
A company that is completely or partially owned and controlled by another company, but operates in a different country than the parent company.
Functional Currency
The currency of the primary economic environment in which an entity operates, usually reflected in its financial statements.
Assets and Liabilities
The resources owned by a company or individual that have value (assets) and the obligations owed to others (liabilities).
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