Certificate of Deposit (CD) is issued by a commercial bank. Which of the following is true of the Certificate of Deposit

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Q 1517001889.     Certificate of Deposit (CD) is issued by a commercial bank. Which of the following is true of the Certificate of Deposit ?



A

it is issued in the form of a receipt

B

it is issued in the form of a Bill of Exchange

C

it is issued in the form of a Demand Promissory Note

D

it is issued in the form of usance promissory, at a discount to the face value

E

None of the above

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Solution
(Provided By a Student and Checked/Corrected by EXXAMM.com Team)

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