Question

Match the Pairs:

	Column A	Column B
1.	A foreign currency  transaction	Should be translated at the closing rate.
2.	Closing Balance of Monetary Items	AS 11
3.	Average Rate	Monetary Items
4.	Accounting for Transactions in Foreign Currencies.	An enterprise becomes a party to an unperformed forward exchange contract .
5.	Cash, receivable and payables	Mean of the exchange rate in force During a period.

Answer 1

Match the Pairs:

	Column A	Answer
1.	A foreign currency  transaction	An enterprise becomes a party to an unperformed forward exchange contract .
2.	Closing Balance of Monetary Items	Should be translated at the closing rate.
3.	Average Rate	Mean of the exchange rate in force During a period.
4.	Accounting for Transactions in Foreign Currencies.	AS 11
5.	Cash, receivable and payables	Monetary Items