Q446
Deposit issued by bank, usually negotiable and have specific maturity date and interest rate is classified as
A.
indirect certificate
B.
direct certificate
C.
negotiable certificate
AnswerD.
deposit certificate
Answer: Option C
Solution
Answer: Option C
Solution:
Deposit issued by bank, usually negotiable and have specific maturity date and interest rate is classified as negotiable certificate. A negotiable certificate of deposit, or CD, is a marketable receipt for funds deposited in a bank for a specified period at a specified rate of interest.