Answer Posted / lxmi1972

Loan- Is an amount given for a specified period and is
recoverable with a particular interest rate.


Advance- means it is given for a temporary basis to meet out
cause (say)purchases, Travel expenses etc., Interest is not
charged on this advance amount.

Both are Balance sheet items.

how to prepare for accontant examinations

2043

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What is BRS Adjustment entry?

4157

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What else ? This is the question asked to me every where every time while facing interview. I want to know is this a real question for accounting? If yes haw or if no How? I am really confuse.

1853

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Explain the meaning of long-term notes payable is or long term liabilities?

1146

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in terms of accounting the trial balance when is it taken?

999

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When Tds is applicable to deduct and wht is rate for different work panel?

1896

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Explain me the difference between public and private accounting?

1042

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rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.

1600

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Tell me in which account does the unpresented cheque will get recorded?

1008

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What do we mean by purchase return in accounting?

1032

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Discuss the consistency concept in accounting

1039

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"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...

1784

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What is account in accounting?

1068

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under which accounting rule prepaid salary?

2141

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HOW TO FILL PURCHASE RETURNS IN VAT 200,IF NOT PURCHASES THE PERIOD?

1949

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