📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store
  • ✖

      Question

      Rebate on bill discounted is shown in bank’s balance

      sheet under?
      A Assets side of the balance sheet Correct Answer Incorrect Answer
      B Liability side of the balance sheet Correct Answer Incorrect Answer
      C Income side of the balance sheet Correct Answer Incorrect Answer
      D Expense side of the balance sheet Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Rebate on Bills Discounted is also known as Discount Received in Advance, or, Unexpired Discount. In bank balance sheet it shown under the head Other liability and provision.

      Practice Next
      ask-question