Question

How are short-term borrowings classified?

a.

Only as Loans repayable on demand.

b.

Loans repayable on demand and Loans and advances from subsidiaries.

c.

Loans repayable on demand, Deposits, and Other loans and advances.

d.

Loans repayable on demand, Loans and advances from subsidiaries, and Deposits.

Posted under IC 89 Management Accounting

Answer: (c).Loans repayable on demand, Deposits, and Other loans and advances. Explanation:Short-term borrowings are classified as Loans repayable on demand, Deposits, and Other loans and advances, among other specified categories.

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Q. How are short-term borrowings classified?
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