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Answer Posted / anuj sharma ( ibs-g)
The money due from one person to another , in which one
party is under obligatuion to pay certain sum of money at a
certain period.
Intrest is also paid to the lender along with principal.
Intrest is charged under profit and loss account and
principal under liability side of balane sheet.
| Is This Answer Correct ? | 37 Yes | 3 No |
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