Question No 19:
In finance, a bond is described as?
A. A negotiable instrument offering a fixed rate of interest over a fixed period of time and with a fixed redemption value.
B. A negotiable instrument which provides evidence of a fixed term deposit with a bank. Maturity is normally within 90 days but can be longer.
C. A document which sets out a commitment to pay a sum of money at a specified point in time.
D. An unsecured short term loan note issued by companies and generally maturing within a period of up to one year.
Answer: A
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