why is loan to someone an asset whereas loan by someone a liability?
BAC
kridhi
Question
why is loan to someone an asset whereas loan by someone a liability?
1 Réponse
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1. Réponse islemkhouya3
Réponse:
because of interest
Explications:
if you lend someone money They have to pay you the full amount plus interest whereas if you borrow money you have to pay the full amount plus interest.