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Question
What form does Commercial Paper take?
Options
A bill drawn by a seller and accepted by a buyer
A negotiable and transferable promissory note
A negotiable, unsecured instrument in bearer form
A promissory note issued by RBI on behalf of the central government
MCQ
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Solution
Commercial Paper is a negotiable and transferable promissory note. It is also a short-term unsecured money market instrument.
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