Loans from banks repayable on demand will be classified in the Balance Sheet of a company as :

CS Executive · Corporate and Management Accounting · PYQS · December 2020
Loans from banks repayable on demand will be classified in the Balance Sheet of a company as :
(A) Short-term borrowings
(B) Long-term borrowings
(C) Other Current Liabilities
(D) Other Long-term Liabilities

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Financial Accounting

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