Companies must always accrue interest between the last loan payment date and the company's reporting date.

Name: Companies must always accrue interest between the last loan payment date and the company's reporting date.
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Question

Quizplus · Accepted Answer

According to accounting principles, interest must be accrued between the last loan payment date and the company's reporting date in order to ensure accurate financial reporting. This helps to accurately reflect the company's current financial position and performance.

Companies Must Always Accrue Interest Between the Last Loan Payment