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Kohlberg's theory is similar to Piaget's in that both
Historical Rate
An exchange rate used for converting transactions that have already occurred, based on the rate in effect at the time of the transaction.
Spot Rate
The current market price used for immediate delivery of a currency, commodity, or financial instrument.
Closing Rate
The exchange rate at the balance sheet date, used to convert the financial statements of a foreign subsidiary to the parent company's presentation currency.
Non-monetary Assets
Assets that are not in the form of cash or cannot be easily converted to cash, such as property, plant, and equipment.
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