Question

short term loan taken from bank is a______liabilty​

Answer 1

Answer:

A term loan is a loan from a bank for a specific amount that has a specified repayment schedule and either a fixed or floating interest rate. A term loan is often appropriate for an established small business with sound financial statements. Also, a term loan may require a substantial down payment to reduce the payment amounts and the total cost of the loan.

Answer 2

Current liability which needs to be paid within a a year