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in the unexpired basis calculation , i know “today is 1 september” therefore the answer shet have sued 1/4 to multiply with the basis.
However, in the part (b) text, it says that the Armstrong group in the next six months is that it is due to receive 25million pounds from Bardsley Co on 30 November. Doesn’t this mean today is 1 June ?
First part of the question says that today is 1 September while when we look at the second part of the question, next six months ………… on 30 November which implies today is 1 June…
i know the answer sheet have used 1 september but im abit confused in the way that question have laid out the text…
Does that mean that next six month….. receive 25 million on 30 November is the incorrect sentence ? because if today is 1 september and next six month isn’t 30 November…..
You are mis-reading the question (although I must admit that the wording could actually be better!).
The question does not say that the transaction will take place in exactly 6 months time. It says the most significant transaction in the next 6 months – i.e. within (or during) the next 6 months.
It actually takes place on 30 November (and ‘today’ remains as 1 September).
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