Social Sciences, asked by singharpit538, 1 year ago

What is loans and advances in current assets?

Answers

Answered by Anonymous
0
Dear student..

Advances on asset side are those advances which are paid for now but realize at future date. so it is an assets to the company. And Loan on assets side ate those loans which are given by the company and to be recovered in future with interest. so it is an asset to the company.

Hope this helps! Cheers!
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