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Sundry loans
There is this sundry loans on liability side of the balance sheet what does that mean. And Loans and advances in assets side ?
Replies (3)
loans in liability side means you have taken loan and in assets side it means you have given loan
"Sundry loans on liability side of the balance sheet what does that mean?"
Ans. These are the loans taken by person, which are payable as on the date
"And Loans and advances in assets side?"
Ans. These are the loans given by the person, which are receivable on the date.
endorse Jai sir and Dhiraj sir views
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