Question
An Indian exporter receives a payment of USD 50,000 when
the exchange rate is ₹83/USD. At the year-end, the rate drops to ₹80/USD and the amount is still held in the foreign currency account. How is this treated under Ind AS 21?Solution
The drop in value results in an unrealised exchange loss, which must be recorded as per Ind AS 21.
More Foreign Exchange Questions
Select the word that is closest in meaning (SYNONYM) to the word given below
Equivocal
Choose the correct ANTONYM for the given word .
Brazen
A) Subtle B) Oblivion C) Naive D) Slight
The team made a valiant effort to win the match despite their injuries.
Do you trust me?
Warrior : Sword :: Surgeon : ?
- Select the most appropriate synonym of the given word.
Ecstatic Select the most appropriate synonym of the given word.
Diligent
- In the following sentence, choose the word similar in meaning to the bold word to fill in the blank.
The soldiers showed valour on the battlefield,... Choose the one which best expresses the meaning of the given word .
Recalcitrant
