Question: Illustrate the direct method and indirect methods of quoting exchange rates. Assume an Australian company has a deposit with a financial institution at year end

Illustrate the direct method and indirect methods of quoting exchange rates. Assume an Australian company has a deposit with a financial institution at year end amounting to $U.S.100 000 and the closing exchange rate is $A1 = $U.S.0.90. Calculate the $A amount of the deposit to be included in the statement of financial position

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