COST ACCOUNTING
BREAK EVEN POINT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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£1, 500
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£3, 000
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£15, 500
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£8, 000
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Detailed explanation-1: -The loan repayment period ranges between 12 months and 60 months. The lender charges a competitive rate of interest. Customised and flexible loan repayment options are offered.
Detailed explanation-2: -Car loans, home loans and certain personal loans are examples of long-term loans. Long term loans can be availed to meet any business need like buying of machinery or any personal need like owning a house. Long-term loans are the most popular form of credit in the financial industry.
Detailed explanation-3: -So, to get your monthly loan payment, you must divide your interest rate by 12. Whatever figure you get, multiply it by your principal. A simpler way to look at it is monthly payment = principal x (interest rate / 12). The formula might seem complex, but it doesn’t have to be.
Detailed explanation-4: -What is the journal entry of repaid bank loan? Bank loan A/C.