Register now or log in to join your professional community.
<p><strong><span>(a)Equal to face value,</span></strong></p> <p><strong><span>(b)More than face value,</span></strong></p> <p><strong><span>(c)Less than face value,</span></strong></p> <p><strong><span>(d)Equal to redemption value</span></strong></p>
C less than face Value
It is promissory note issue by Financial Institute or Big firms to fulfill there short term need and time is not longer than270 days.
lessthan facevalue
(c)Less than face value,
'Commercial Paper'
An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities. Maturities on commercial paper rarely range any longer than270 days. The debt is usually issued at a discount, reflecting prevailing market interest rates.
Answer Option (c) >>>>>>>>>>>> Less than face value,
