Which of the Following Money Market Investments Is a Draft

question 67

Multiple Choice

Which of the following money market investments is a draft written by the borrower and guaranteed by the bank on which the draft is drawn? It is typically used in international trade transactions. The borrower is an importer who writes the draft in payment for goods.

• A) Treasury bills
• B) repurchase agreement
• C) certificates of deposit
• D) banker's acceptance
• E) commercial paper

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