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QUESTION 5 ( FOREIGN EXCHANGE ) I ' s year of assessment ends on the last day of February. On 1 December 2 0 1
QUESTION FOREIGN EXCHANGE
Is year of assessment ends on the last day of February. On December the ompany purchased trading stock from a supplier in another country for a foreign currency FC amount of FC The debt was paid on April All trading stock was sold by the end of February
Assume that the exchange rates on the relevant dates are as follows:
table December : spot rate,
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