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Liability for bill discounted is a ...

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Alok Ranjan one year ago

Once the bill is discounted it becomes current liability please explain

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NIHARIKA WALIA one year ago

The bills discounted with a bank represent a contingent liability since their dishonour by the drawee, though possible is not considered probable, because in such cases there is an implied or written prior agreement under which the buyer (the drawee) agrees to make the payment through a bank.

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