Rebate on bills discounted is shown in the Balance Sheet as _______.

Advances

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Other liabilities and provisions

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Other income

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Reserves & surplus

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Solution

The correct option is A Other liabilities and provisions
Option B is correct one.
Rebate on Bills Discounted is also known as Discount Received in Advance, or, Unexpired Discount or, Discount Received but not earned. In bank balance sheet it shown under the head Other liability and provision.

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