Dear Madisen Sagen
Greetings for the day,
For calculating different ratios, we shall use 365 days in a year unless otherwise specifically mentioned in the question to use 360 days in a year.
IMA suggests to use 365 days in all the ratios calculation unless mentioned or provided in the question itself.
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Sushil Jindal
Financial Advisor
Batra Deepak & Associates India Pvt Ltd
Raipur Chhattisgarh (India)
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Original Message:
Sent: 05-02-2019 09:05 AM
From: Madisen Sagen
Subject: Calculations
Hi all-
From your exam and study experience, if the question does not state a "365 day year" or "360 day year," which do you assume?
Most of the questions in my study material (Gleim) specifically state the number of days to use for a calculation, but I have come across a few questions that do not state this and a 365 day value is used for the correct answer. Is it safe to say that unless stated, use 365?
Thanks for your input!