Products & RisksPregunta 50 de 125
A money market instrument such as commercial paper is best described as:
a.A long-term equity security
b.A short-term, unsecured corporate debt obligation, typically maturing in 270 days or less
c.A municipal general obligation bond
d.A federally insured deposit
Explicación
Commercial paper is short-term, unsecured corporate debt issued at a discount, usually with maturities of 270 days or less so that it is exempt from full registration under the Securities Act of 1933. It is a money market instrument used by corporations for short-term financing.
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