If you obtain a loan to purchase a car in June,this loan amount would be included as income for June.

Name: If you obtain a loan to purchase a car in June,this loan amount would be included as income for June.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The loan amount is not considered income as it is a liability that needs to be paid back. Income refers to money earned or received from sources such as wages, salaries, tips, or interest on investments.

If You Obtain a Loan to Purchase a Car in June,this