What is the rationale behind the choice of an exchange rate as an entity's functional currency?

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What is the rationale behind the choice of an as an entity's functional currency?
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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One of the objectives of the translation process is to provide information that is generall...View the full answer

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