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      Question

      Where will the Bill receivable discounted but not due

      till date of final accounts, be shown under?
      A Assets Correct Answer Incorrect Answer
      B Liabilities Correct Answer Incorrect Answer
      C Capital Correct Answer Incorrect Answer
      D Profit and loss account as expense Correct Answer Incorrect Answer
      E Notes to accounts Correct Answer Incorrect Answer

      Solution

      It is a contingent liability and therefore shown under notes to accounts

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