Accountancy, asked by oliviacara, 3 months ago

is loan from someone asset or liability​

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Answered by Ilhaan070star
1

Answer:

If you're a bank or other lending institution, loans that you make to people or businesses are assets, since that's money you are owed and can generate revenue through the interest paid to you. For the rest of us, loans are liabilities, because having loans means we owe other people/entities money.

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