When actual results are compared to an operating budget, under what conditions might it be appropriate to

Question:

When actual results are compared to an operating budget, under what conditions might it be appropriate to hold the manager of a foreign subsidiary responsible for an exchange rate variance as part of the total budget variance?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...

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