Foreign Exchange Rate: It refers to the price of one currency which is expressed in terms of the currency of another country. In other words, the foreign exchange rate is the rate at which the currency of two countries is exchanged. The exchange gain or loss as per country U’s company record.

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Chapter 15A, Problem 12DQ

To determine

Concept Introduction:

Foreign Exchange Rate: It refers to the price of one currency which is expressed in terms of the currency of another country. In other words, the foreign exchange rate is the rate at which the currency of two countries is exchanged.

The exchange gain or loss as per country U’s company record.

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