Question

When loans are guaranteed by directors or others, what information should be disclosed?

a.

The names of the guarantors only.

b.

A mention thereof and the aggregate amount of such loans under each head.

c.

The terms of repayment only.

d.

The reasons for the guarantee.

Posted under IC 89 Management Accounting

Answer: (b).A mention thereof and the aggregate amount of such loans under each head. Explanation:When loans are guaranteed by directors or others, the disclosure should include a mention thereof and the aggregate amount of such loans under each head.

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Q. When loans are guaranteed by directors or others, what information should be disclosed?
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