26 August 2012
what is the basic difference between loans & advances and loans & advances (assets).... i always get confuse in these terms..plz explain me
30 August 2012
The explanation of Ms Vidyadhari is right. In a balance sheet if loans and advances appear in liabilities side, that means the business concern has availed loans and advances (say from bank or from individuals) hence they are the liabilities.
If they appear on asset side, the business concern has lent them to others which are recoverable and hence they are assets.
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