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Querist : Anonymous

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Querist : Anonymous (Querist)
18 December 2010 Dear Sir/Madam

Libaility arises because of
(a) only cash transactions
(b) only credit transactions
(c) cash as well as credit transactions
(d) none of the above

Please tell which of the following is answer with explanations?
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
18 December 2010 Cash and credit transaction.
liability arises when a purchase is made on credit and take a loan.

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