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21 November, 16:00

If a company has a payable denominated in the Euro, and the U. S. dollar weakens, then what will happen?

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  1. 21 November, 17:25
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    Answer and explanation:

    If a company has a payable in a foreign currency and the local currency weakens, the initial amount of the payable will be higher in the local currency of the firm which will represent a company loss. The loss must be recorded in the financial statements the very same date where the loss takes place regardless the payable will be paid on the same day.
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