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Loans & Lending Practices MCQs

Why can a lender not deduct the loans made from their net income?

Because there is no reduction in their assets — there is only a change from cash assets to receivables

Because it is considered the income of the borrower

Because it has minimal impact on tax revenue

Because there is no need to include it as long as the loan is paid back within a year

Answer

Correct Answer: Because there is no reduction in their assets — there is only a change from cash assets to receivables

Explanation:

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