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Define an Option What is Strike Price? What is meant by options intrinsic value? Define Spot Rate. What is a derivative? What is foreign currency

Define an Option
What is Strike Price?
What is meant by options intrinsic value?
Define Spot Rate.
What is a derivative?
What is foreign currency transaction?
Define foreign currency risk exposure.
Define asset exposure.
State how derivatives and changes in their values are reported under US GAAP and IFRS.
What is a forward contract, and how discounts and premiums on it are treated under US GAAP and IFRS?

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