Important Points for IC 89 - Management Accounting Exam

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  • Direct Quotation is a quotation which indicates the unit of domestic currency as against a single unit of the foreign currency.
  • Indirect quotation is a quotation in which domestic currency of a country is treated as base currency against the foreign currency.
  • Foreign exchange quotes are two-way quotes, expressed as a bid and an offer price.
  • Bid is the price at which the dealer is willing to buy another currency.
  • The offer is the rate at which dealer is willing to sell another currency.

Management Accounting

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