Question

In a spot transaction, when is the settlement date relative to the transaction date?

a.

Same day

b.

One day later

c.

Two days later

d.

Three days later

Posted under IC 89 Management Accounting

Answer: (c).Two days later Explanation:In a spot transaction, the settlement date is two days ahead of the transaction date, except in the case of certain currencies like the US dollar, the Canadian Dollar, or Russian Ruble, which are settled on the next working day.

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Q. In a spot transaction, when is the settlement date relative to the transaction date?
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