'Exchange rate' is:
A) not defined in AASB 121.
B) the difference between the currency rates.
C) the rate at which one currency can be exchanged for another.
D) all of the given answers.

Question

Quizplus · Accepted Answer

The exchange rate is the rate at which one currency can be exchanged for another. Option A is incorrect as AASB 121 does define exchange rate. Option B is incorrect as it only describes a difference and not the actual rate. Option D is incorrect as only one answer choice is correct.

'Exchange Rate' Is