Question

the bank show bill purchased and discounted under the head
advances
investments
fixed assets
other assets

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Answer 1

Answer:

other asset

Explanation:

(discount received) it is a current asset

Answer 2

Other assets

• BILLS PURCHASED, in exchange finance, permits a dealer to get financing and get prompt assets in return for a business record not drawn under a letter of credit. The bank will send the business reports to the purchaser's bank for the merchant.

• Aside from authorizing advances and advances in different structures and, on the security of different sorts of merchandise and archives, and so on, Bills Purchased and Discounted is the approach to utilizing the bank reserves. Such Bills of trade emerge out of business exchanges both in inland exchange and unfamiliar exchange.