seured or unsceured loan
This query is : Resolved
09 March 2010
Dear sir,
Some one told me that vehicle loan taken from bank suhould be shown under the HEAD UNSECURED LOAN NOT UNDER SECURED LOAN AS PER SCHEDULE VI IN THE COMAPNY BALANCE SHEET
PLS LET ME KNOW WHAT IS CORRECT
Some one told me that vehicle loan taken from bank suhould be shown under the HEAD UNSECURED LOAN NOT UNDER SECURED LOAN AS PER SCHEDULE VI IN THE COMAPNY BALANCE SHEET
PLS LET ME KNOW WHAT IS CORRECT
09 March 2010
Bank gives vehicle loan against the security of vehicle. so, it is fully secured. so it should be shown under secured loan
09 March 2010
its better clarified from clause of loan aggrement. but generally its secured against vehicle only..
09 March 2010
AGREE. IT SHOULD BE SHOWN AS SECURED LOAN.
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