A foreign currency account maintained by a bank abroad is itsOa. Nostro accountOb. Vostro áccountOc. Loro accountO d. Foreign bank account

Ans. Nostro is a Latin word which means 'ours'. Nostro means 'our account with you'. It is an…

Answered: O a. Nostro account O b. Vostro áccount…

Business

Accounting

O a. Nostro account O b. Vostro áccount O C. Loro account

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 12RQ: When a business borrows money from a bank on a non-interest-bearing note, how are the bank discount...

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A foreign currency account maintained by a bank abroad is its
Oa. Nostro account
Ob. Vostro áccount
Oc. Loro account
O d. Foreign bank account

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