Which category of the following loans does not need to be presented as a current...

50.1K

Verified Solution

Question

Accounting

Which category of the following loans does not need to be presented as a current liability?
a. A loan due to a related party that is callable at any time.
b. A loan with a due on demand clause.
c. A loan due to a foreign bank.
d. The principal portion of a bank loan due within the twelve months following the balance sheet date.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students