LETTER OF CREDIT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2010
I want assistance in knowing were does LETTER OF CREDIT facility availed by company from financial instition be reflected in BALANCE SHEET & why ?
07 July 2010
Letter of credit is a non funded facility and hence it will not appear in Balance sheet. However, the amount of unexpired letter of credit will be shown in "the notes forming part of the accounts" under the head "contingent liabilities".
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