Question

In a Spot Transaction, what is the settlement date for currencies like the US dollar, Canadian Dollar, or Russian Ruble?

a.

One working day

b.

Two days ahead of the transaction

c.

Same day as the transaction

d.

Three days after the transaction

Posted under IC 89 Management Accounting

Answer: (a).One working day Explanation:For currencies like the US dollar, Canadian Dollar, or Russian Ruble, the settlement date in a Spot Transaction is the next working day.

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Q. In a Spot Transaction, what is the settlement date for currencies like the US dollar, Canadian Dollar, or Russian Ruble?
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