Question

Question 3 :
Which of the following item is not included
in Loans and Advances of Company Ltd.​

Answer 1

Explanation:

where is the option dear

Answer 2

Prepaid expenses are excluded from Loans and Advances of the Company.

• Loans and advances are general depictions of debt commitments organizations owe and should show on their accounting report as a component of absolute liabilities.
• Formal contracted loans are regularly planned as "notes payable" on an asset report, though advances or buys on layaway are recorded as records payable.
• Loans allude to a debt given by a financial organization to a specific period while Advances are the assets given by the banks to the business to satisfy working capital prerequisites which are to be payable in one year or less.
• Current resources are resources that are utilized to subsidize everyday activities and pay the continuous expenses of an organization.
• The most well-known current resources incorporate various debtors, inventories, money, bank adjustments, loans, and advances, among others. We will momentarily talk about a portion of the key current resources individually.