ew View Developer Design Layout . . Heading 2 Normal No Spach. Heading 1 Title Subtitle Subtle Em... Paragraph Styles 2- "The exchange rate that is prevailing when a foreign currency asset was first acquired or a foreign currency liability first incurred', is: A- Historical exchange rate B- Current exchange rate C-Both a and b D- None of the aboveanswers is correct answer 3-To achieve international comparability in financial reporting' is the objective of: A-Harmonization B-Convergence C-Both harmonization and convergence D- None of the above answers is correct answer 4- "Increased agreement in actual accounting practices is: A harmonization in accounting standardization B- Harmonization in accounting practice C-Both a and b D Done of the above answers is correct answer 5-within the context of accounting harmonization, IOSCO stands for: A- International Organization of Securities Commissions B. Interational Organization of Standardization Committee C-Botha and D. None of the above ansvers is correct