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A company pays interest on loans amounting to $7,000. How should this be recorded in the Profit and Loss Account?a)As a creditb)As a debitc)As a liabilityd)Not recorded in the Profit and Loss AccountCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A company pays interest on loans amounting to $7,000. How should this be recorded in the Profit and Loss Account?a)As a creditb)As a debitc)As a liabilityd)Not recorded in the Profit and Loss AccountCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A company pays interest on loans amounting to $7,000. How should this be recorded in the Profit and Loss Account?a)As a creditb)As a debitc)As a liabilityd)Not recorded in the Profit and Loss AccountCorrect answer is option 'B'. Can you explain this answer?.

Solutions for A company pays interest on loans amounting to $7,000. How should this be recorded in the Profit and Loss Account?a)As a creditb)As a debitc)As a liabilityd)Not recorded in the Profit and Loss AccountCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

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