As required by FASB-52, which exchange rate is required to be used to translate assets and liabilities of a foreign entity from its functional currency to the reporting currency?

Question

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FASB-52 requires the use of the current exchange rate to translate assets and liabilities of a foreign entity from its functional currency to the reporting currency. The current exchange rate is the rate at which the assets and liabilities could be settled at the date of the financial statements.

As Required by FASB-52, Which Exchange Rate Is Required to Be