bank overdraft account
This query is : Resolved
26 September 2008
Under which head will we enter secured bank overdraft - secured loan or current liabilities?
26 September 2008
Secured loan.
26 September 2008
It depends on the purpose for which loan availed. If it is Working capital is it not current liability?
26 September 2008
No. In the case of companies availing secured loans there is a specific requirement to show the secured loan only under that category as per companies Act
26 September 2008
Yes, It will be shown as a Secured Loan
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