Question

Explain the rules relating to conversion of trial balance of a foreign branch
in the currency of Head Office.
​

Answer 1

Answer:

(A) Conversion of fixed assets appearing in the branch trial balance should be at the rate prevailing on the date of transaction or the date of payment. ADVERTISEMENTS: (B) Fixed liabilities should be converted at the rate prevailing either on the date the liability was incurred or on the date of payment.

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Answer 2

Answer:

can't know

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