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