CERTYNEX IFRS ACADEMY

On 12 March, Lorien, whose functional currency is the euro, sells goods invoiced in dollars. Which rate does it use to record the sale?

The closing rate of 31 December of the previous year, which serves as the reference for the year.

The spot rate of 12 March between the euro and the dollar.

The rate of the expected settlement date, which is still unknown at the date of the sale.

The average annual rate of the year, applied to the year's sales.