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Advanced Test 3
Terms in this set (11)
Agreement to purchase or sell something at a later date at a price agreed upon today. Typically made with dealers of foreign exchange and can be tailored to particular needs.
Have standardized contract terms, are traded on organized exchanges, and changes in value must be realized on each and every trading day.
The number of units of a currency that would be exchanged for one unit of another currency on a given date.
The number of units of one currency that would be exchanged for units of another currency at a specified future point in time.
The price specified in an option contract at which the optioned asset can be purchased.
Exercise (Strike) Price
Exchange of interest rates between borrowers, typically relating to a borrower with fixed-rate debt exchanging interest payments with a borrower with variable-rate debt.
Interest Rate Swap
Gives the option holder the right to buy something at a set price at some future time.
Gives the option holder the right to sell something at a set price at some future time.
The currency in which the sub records its transactions and prepares its financial statement information.
The currency in which the parent prepares and issues its consolidated financial statements.
The currency of the primary economic environment in which the sub operates; normally, that is the currency of the environment in which a sub primarily generates and expends cash.
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Audit Test 3