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      Question

      As per the Banking Regulation Act, 1949, which of the

      following is not included in the "Schedule of Interest Accrued but Not Due" in a bank's balance sheet?
      A Interest accrued on fixed deposits Correct Answer Incorrect Answer
      B Interest accrued on loans given Correct Answer Incorrect Answer
      C Interest accrued on investments Correct Answer Incorrect Answer
      D Interest received in advance Correct Answer Incorrect Answer
      E Discount on bills purchased Correct Answer Incorrect Answer

      Solution

      Solution: "Interest Accrued but Not Due" is an asset representing income earned but not yet received or billed as due. Interest received in advance is a liability (unearned income), not an asset. All others (a, b, c, e) are forms of accrued income/interest receivable for a bank.

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