alleryStart learning →A USD 1,000 payable booked at Rs 60 was Rs 63 at year end and settled at Rs 62 next year. Year 2 effect?
ALoss of Rs 2,000
BGain of Rs 1,000
CLoss of Rs 1,000
DGain of Rs 2,000
Answer & Solution
Correct answer: B. Gain of Rs 1,000
Year 1 books a loss of Rs 3,000 (63 less 60); in year 2 the rate falls 1 rupee, giving a gain of Rs 1,000.
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