Question

What is a Direct Quotation in the context of Exchange Rate?

a.

A quotation indicating the unit of domestic currency against a single unit of foreign currency

b.

A quotation indicating the unit of foreign currency against a single unit of domestic currency

c.

A quotation indicating the exchange rate between two foreign currencies

d.

A quotation indicating the exchange rate between two domestic currencies

Posted under IC 89 Management Accounting

Answer: (a).A quotation indicating the unit of domestic currency against a single unit of foreign currency Explanation:A Direct Quotation indicates the unit of domestic currency as against a single unit of the foreign currency.

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Q. What is a Direct Quotation in the context of Exchange Rate?
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