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Categories >> Accounting >> Audit
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1892)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
Whether the term loan which was long term as on Mar-11, but
now it is short term due to its repayment within one year
from the reporting period. Whether it should be classified
as short term borrowings or other current liabilities as per
Revised schedule VI.
 Question Submitted By :: Zuzer
I also faced this Question!!     Rank Answer Posted By  
 
  Re: Whether the term loan which was long term as on Mar-11, but now it is short term due to its repayment within one year from the reporting period. Whether it should be classified as short term borrowings or other current liabilities as per Revised schedule VI.
Answer
# 1
it should be classified as short term borrowings 
Is This Answer Correct ?    10 Yes 4 No
Monika Khandelwal
 
  Re: Whether the term loan which was long term as on Mar-11, but now it is short term due to its repayment within one year from the reporting period. Whether it should be classified as short term borrowings or other current liabilities as per Revised schedule VI.
Answer
# 2
nature of long term and short term depond upon the date of the amount is taken instead of remaining period of the loan amount 
Is This Answer Correct ?    1 Yes 2 No
Dhiraj Kumar
 
 
 

 
 
 
Other Audit Interview Questions
 
  Question Asked @ Answers
 
whether an independant auditor can increase his fees in properitory firm according to turnover. MAHINDRA 1
The difference between interim audit and final audit?   3
secretarial audit   6
Can Bonus of pre-operative period be part of pre-operative expenses ?   1
can we depreciate land &building and whats the rate of dereciation   3
how many types of auding report?   2
1.How do you effectively solve Accounts problems 2. What was the most demanding / stressful situation that you have handled in your current capacity (Accountant):   2
Service tax for last 2 years not paid. while paying this year, do i need to pay for 3yrs or 1 yr? Accenture 4
whether VAT is an asset or liabilities? TATA 12
What is a voucher????   8
What Is error of totalling? plz provide the neccessary notes?   1
accounting procedure   1
 
For more Audit Interview Questions Click Here 
 
 
 
 
 


   
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