📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      While accounting for ‘interest on capital’ provided by a firm, it will be recognized as which of the following? 

      A Income Correct Answer Incorrect Answer
      B Expense Correct Answer Incorrect Answer
      C Asset Correct Answer Incorrect Answer
      D Liability Correct Answer Incorrect Answer
      E Capital Correct Answer Incorrect Answer

      Solution

      Interest paid is an expense while interest earned is revenue/income for the company.

      Practice Next
      ask-question