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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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