Question

Janet Flynn, owner of Reel Company, plans to apply for a bank loan at Petro National Bank. Because her company has a lot of debt on its balance sheet, Janet does not plan to show it to the loan officer. She plans only to bring the income statement. Do you feel that this move is a sound financial move by Janet? You make the call. Write down your specific recommendations to Janet?

Answer 1

Ans:-

Motivation behind turning around sections : -

• Turning around sections are the type of passages that are set up to maintain a strategic distance from potential mistakes engaged with later diary entries.
• These sections improve the record keeping process.
• However,the arrangement of switching sections is optional.
• Reversing sections are by and large arranged on January 1 subsequent to changing and shutting passages have been finished.

Note:-

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