C D 7 PROBLEM #2 REQUIRED: In the green boxes provided, write the correct term from the list at the right. B DEFINITIONS LCU-FCU A sales transaction with a foreign company Another name for the remeasurement method TERMS: Foreign currency transaction Denominated currency Current rate method Remeasurement Temporal Method The rate existing on the last day of the period (balance sheet date) Exchange rate The currency that a purchase or sales amount is stated in The rate you can exchange two currencies right now The date an AR or AP is paid in a foreign currency Translation Direct exchange rate (DER) Indirect exchange rate (IER) Transaction date Balance sheet date Settlement date Foreign currency transaction gain or loss Exchange gain or loss Import transaction Export transaction Strethening currency Weakening currency Increasing direct exchange rate Decreasing direct exchange rate Spot rate Current rate