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    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.

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