Banking Awareness Test for IBPS, RBI, SBI, NABARD & other Bank Examinations

Q.  When making repayments on a lease, the profit and loss account will contain which items relevant to the lease?

a. Neither interest or instalment charges
b. Instalment charges only
c. Interest and instalment charges
d. Interest only


ANSWER: See Answer
 
When making repayments on a lease, the profit and loss account will contain interest relevant to the lease.
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