Examlex

Solved

An FRA in Which the Rate Is Not Set According

question 23

Multiple Choice

An FRA in which the rate is not set according to rates in the market is called


Definitions:

Revenue Accounts

Accounts that track the income generated from a company's primary and secondary activities, such as sales revenue, service revenue, and interest income.

Adjusting Entry

An adjusting entry is a journal entry made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred, ensuring the accounts reflect true and fair values.

Liability Account

An accounting ledger that shows the debts or obligations of a business, indicating amounts owed to creditors.

Cash Received

This term refers to the amount of money received by a business during a specific period, from various sources like sales, loans, or investments.

Related Questions