I have few questions to ask please help me!
While Pound being Local Currency
And Dollar being Foreign Currency
1) When we sell goods (expprt) to foreign customer; do customers pay in their currency or they have to pay us in Pounds?
2) When we purchase goods (import) from Foreign supplier; do we pay for goods in Local currency or we have to pay in Foreign Currency?
Ask the Tutor ACCA FM
Imports and Exports
5y ago#1In both cases it depends what currency the invoice is prepared in.
If invoices are in $'s then the customer pays $'s (and if they use another currency they will have to buy $'s).
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