Scenariositara textile is one of the renowned textile, Ask an Expert

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Scenario

Sitara Textile is one of the renowned textile companies in Pakistan. It has a strong supply chain network of raw material since its establishment in order to fulfill its customers demand ontime. ABC Co. one of the raw material suppliers of Sitara Textileis in short financing and need Rs. 500,000 to enhance itsproduction facility. ABC Co. requests Sitara Textile to lend the required amount for the period of 3 years. Sitara Textile agreesand guaranteed ABC Co. the loan on certain basis for the said period.

Question

Your comments require in this regard whether Sitara Textile would disclose this financial information while preparing financial statements which will publish later? Your answer mustbe confined in two to three lines.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797724

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