Under the New Companies Act 2013, 'Loans from Related Parties' is considered as _________________.
Short-term brrowings
Reserves and surplus
Long-term borrowings
Any of the above
A
Short-term brrowings
B
Reserves and surplus
C
Any of the above
D
Long-term borrowings
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Solution
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Loan from related parties are generally the loans which are taken to be repaid over a period of time which is usually more than 12 months. Hence, they will be shown under the head Non current liabilities under the sub head long term borrowings.
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