Question Bank - Accountancy

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A TOM rate quoted is for delivery on the

A.
same day
B.
second working day
C.
third working day
D.
following day

Solution:

?Tom is short for œtomorrow and is the next working day from the Cash dateTom rate: The rate is quoted and transacted today for the settlement (debit/credit) tomorrow. Tom date: Tom date is Trade Date + 1 working dayTherefore, a TOM rate quoted is for delivery on the following day.

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