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Closing rate on balance sheet

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Closing rate on balance sheet

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • January 22, 2015 at 2:24 pm #223411
    john girgis iskander
    Member
    • Topics: 34
    • Replies: 5
    • ☆

    what should the closing rate for foreign currency

    1) the last rate company purchase the hard currency (if two months ago-normally from black market)

    or

    2) the last rate on black market (if the company did not purchase by it)

    January 24, 2015 at 2:58 pm #223640
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23335
    • ☆☆☆☆☆

    Wow, that’s a new one on me – never had THAT question before and don’t really know how to answer it.

    I suppose I should get on my ethical high horse and ask what you are doing being associated with a company that deals with and hence encourages black markets and corresponding illegalities.

    In fact, I’m going to leave it at that -never having had anything to do with black markets, I simply do not know the answer to your post

    Sorry. 🙁

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