Page 16 - Chapter 22 - Foreign Exchange
P. 16
EXCHANGE ITEM TRANSACTION DATE
A debt owing by a person Date on which it was actually
incurred.
A debt owing to a person Date on which the amount payable
under the debt accrued to him or
acquired in any other manner.
FEC Date on which it was entered into.
(Forward exchange
contract)
FCOC Date on which it was entered into
(Foreign currency option or acquired.
contract)
A unit of foreign currency. Date on which the amount was
acquired.
