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Review Question 2 Explain what is meant by a spot exchange rate, and closing exchange rate Review Question 4 Explain how the items that arise

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Review Question 2 Explain what is meant by a spot exchange rate, and closing exchange rate Review Question 4 Explain how the items that arise from foreign currency transactions are translated into Australian dollars when initially recognised in the accounting records. What sort of items must subsequently be remeasured under AASB 121/IAS 21? At what dates does the re-measurement occur

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