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Question

Which of the following is true about the discounting of bill of banks?

I. Banks provide short-term finance by discounting bills, by making payment of the amount before the due date.

II. The party gets the funds after waiting for the date of maturity of the bills.

A Only I is true. Correct Answer Incorrect Answer
B Only II is true. Correct Answer Incorrect Answer
C both I & II are true Correct Answer Incorrect Answer
D None is true Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The correct answer is A

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