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If final payment date is 30 September and year end is 31 March, up to which date will interest on loan be charged?

Answer and explanation

Correct answer: Up to 30 September

The loan ends on final payment, so no interest is charged after that. Exam tip: treat payment date as the end of period.

Related tags

Final PaymentInterest PeriodAgreementPartner's Loan AccountPartner S Loan AccountReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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