logo

CuriousTab

CuriousTab

Discussion


Home Interview Accounting and Finance Comments

  • Question
  • What is ?Bill Discount? ?


  • Correct Answer
  • ?Bill Discount? is a settlement of the bill, where your electricity bill or gas bill is sold to a bank for early payment at less than the face value and the bank will recover the full amount of the bill from you before bill due date For example, electricity bill for XYZ is $1000; the electricity bill company will sell the bill to the bank for 10% to 20% discount to the face value Here, the bank will buy the electricity bill for $900 whose face value is $1000, now the bank will recover, full amount of bill from the customer ie $1000 If the customer fails to pay the bill, the bank will put interest on the outstanding bill and ask the customer for the payment 


  • Accounting and Finance problems


    Search Results


    • 1. What is CRR rate?
    • Discuss
    • 2. What have you learned from your studies that can be applied to a career in investment banking?
    • Discuss
    • 3. What is the difference between cheque and Demand Draft?
    • Discuss
    • 4. The journal entry to record a credit sale is

    • Options
    • A. Accounts Receivable
    • B. Accounts Payable
    • C. Both A & B
    • D. None of the above
    • Discuss
    • 5. What are the Golden Rules Of Accounting ?
    • Discuss
    • 6. Most modern Banking Systems are based on

    • Options
    • A. commodity money
    • B. 100 percent reserves
    • C. fractional reserves
    • D. money of intrinsic value
    • Discuss
    • 7. Define Budgetary Control ?
    • Discuss
    • 8. In which year, the first bank of India "Bank of Hindustan" was established ?

    • Options
    • A. 1677
    • B. 1770
    • C. 1796
    • D. 1831
    • Discuss
    • 9. As per the provisions of Section 12 of the Banking Regulation Act, 1949, the minimum ratio between authorized, subscribed and paid-up capital of a banking company should be

    • Options
    • A. 2 : 2 : 1
    • B. 4 : 2 : 1
    • C. 2 : 1 : 4
    • D. 1 : 1 : 1
    • Discuss
    • 10. When referring to student loans what is a grace period?

    • Options
    • A. 6 months
    • B. 12 months
    • C. 18 months
    • D. 24 months
    • Discuss


    Comments

    There are no comments.

Enter a new Comment