When a company borrows $150 million during the year and also repays $120 million of debt, the company can disclose the $30 million net amount as excess of borrowings

Question

Quizplus · Accepted Answer

The company must disclose both the borrowings and repayments separately in the financial statements, not just the net amount, to provide a clear picture of its financial activities.

When a Company Borrows $150 Million During the Year and Also