Question

How are long-term borrowings classified?

a.

Only as Bonds/Debentures and Term Loans.

b.

Bonds/Debentures, Term Loans, and Deferred Payment Liabilities.

c.

Term Loans, Deposits, and Loans and Advances from Related Parties.

d.

Bonds/Debentures, Term Loans, and Long-term Maturities of Finance Lease Obligations.

Posted under IC 89 Management Accounting

Answer: (b).Bonds/Debentures, Term Loans, and Deferred Payment Liabilities. Explanation:Long-term borrowings are classified as Bonds/Debentures, Term Loans, and Deferred Payment Liabilities, among other specified categories.

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Q. How are long-term borrowings classified?
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