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Answer Posted / ca prem
Loan cannot be catogerised as Bill Payable , since interest
is calculated on day 1 of loan disbursal
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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Dear Sir/Madam, Executive Trainee...Finance I had been called for NTPC Group discussion and GD please guide me for getting success in GD and interview...
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