The FASB has discussed certain terminology essential to both the
The FASB has discussed certain terminology essential to both the translation of foreign currency transactions and foreign currency financial statements. Included in the discussion is a definition of and distinction between the terms measure and denominate .

Required:
Define the terms measure and denominate as discussed by the FASB. Give a brief example that demonstrates the distinction between accounts measured in a particular currency and accounts denominated in a particular currency.

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