medium10 pts · first answer countsforeign-currency

Restating a USD payable

Goods worth USD 10,000 were bought on credit when the rate was ₹83 per USD. At year end the invoice is unpaid and the rate is ₹85. What is the year-end treatment?

A.Exchange loss ₹20,000; payable shown at ₹8,50,000B.Exchange gain ₹20,000; payable shown at ₹8,30,000C.No change until the invoice is paidD.Exchange loss ₹20,000; payable shown at ₹8,30,000

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Restating a USD payable

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