Q103
A depository receipt
A.
is a non-negotiable instrument
B.
represents shares issued in local currency
AnswerC.
is issued by custodian
D.
is issued for safe custody of articles
Answer: Option B
Solution
Answer: Option B
Solution:
A depository receipt represents shares issued in local currency. A depositary receipt (DR) is a negotiable financial instrument issued by a bank to represent a foreign company's publicly traded securities.