Q431
Short term promissory notes and are unsecured, not collateralized against securities is classified as
A.
notes payable
B.
notes receivable
C.
commercial paper
AnswerD.
commercial notes
Answer: Option C
Solution
Answer: Option C
Solution:
Short term promissory notes and are unsecured, not collateralized against securities is classified as commercial paper. Commercial paper is an unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts payable and inventories and meeting short-term liabilities.