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Explain the effect on income statement and balance sheet

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Reference no: EM132545223

Question 1: Assume that you are a banker and ABC Company Ltd. has applied for a bank loan of Rs. 600,000. Do you consider it as a favourable prospect?

Question 2: Describe Financial Reporting Process and role of Financial Statements.

Question 3: Explain the effect on income statement and balance sheet, if revenue expenditure is wrongly treated as being capital expenditure, and vice versa.

Reference no: EM132545223

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