Banks generally record securities transactions as of trade date. However, it is acceptable to record the transactions as of the _________ if the difference between the settlement date and trade date is not materially different.

Question

Quizplus · Accepted Answer

Banks can record securities transactions as of the settlement date if the difference between the settlement date and trade date is not materially different, as it is a common practice in accounting for securities transactions.

Banks Generally Record Securities Transactions as of Trade Date