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1. The transaction gain or loss to be recognized over the term of a forward exchange contract entered into to speculate in a foreign currency within a fiscal year is measured by the difference between the:

• Spot rate at inception of the contract and forward rate at inception of the contract.
• Spot rate at inception of the contract and spot rate at settlement of the contract.
• Forward rate at inception of the contract and spot rate at settlement of the contract.
• Forward rate at inception of the contract and forward rate at settlement of the contract.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9161237

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