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Personal Loan

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(Querist)
04 December 2010 Dear Friend,

Please Say a Propriter has taken Personal Loan.Is Personal Loan Secured or Unsecured Please Reply.

A Prop has made Recurring Ac should it be grouped under Investment or Current Asset.

Thanks & Regards

Survesh
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CA Dhiraj Ramchandani

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CA Dhiraj Ramchandani (Expert)
04 December 2010 Personal loan is to be categorised as unsecured.., while recurring account may be as investment... But would like to know the reason, if someone claims it as simple bank account, i.e current asset

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