Question

A company has an outstanding foreign currency loan of USD 1 million. During the financial year, fluctuations in the ₹/USD exchange rate resulted in a foreign exchange loss of ₹50,000. As per applicable accounting standards, this exchange loss should be recognized in:

A OCI
B P&L
C Equity
D Deferred tax
E Revaluation reserve
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)