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  • Theoretical Framework of Accounting
  • The bill discounted from bank but not matured yet is an e...
Multiple choice

The bill discounted from bank but not matured yet is an example of

  1. long term liability

  2. short term liability

  3. contingent liability

  4. fictitious asset

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

It is the correct answer. It is not a liability yet and thus is contingent.

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