Question
A company buys a machine from the US at $50,000 when $1
= ₹70. On balance sheet date, $1 = ₹75. How is this change treated?Solution
Monetary items (like creditors) are restated at closing rate and exchange difference is charged to P&L.
Which state recently partnered with the Bill & Melinda Gates Foundation to enhance health, nutrition, and agriculture?
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Head Office of Bank of International Settlement is at?
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The Panchayat Samiti remains accountable for its functions to
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Currency of Maldives is
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