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<p><strong><span>(a)Equal to face value,</span></strong></p> <p><strong><span>(b)More than face value,</span></strong></p> <p><strong><span>(c)Less than face value,</span></strong></p> <p><strong><span>(d)Equal to redemption value</span></strong></p>
C less than face Value
It is promissory note issue by Financial Institute or Big firms to fulfill there short term need and time is not longer than270 days.
lessthan facevalue
C
(c)Less than face value,
'Commercial Paper'
An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories and meeting short-term liabilities. Maturities on commercial paper rarely range any longer than270 days. The debt is usually issued at a discount, reflecting prevailing market interest rates.
Answer Option (c) >>>>>>>>>>>> Less than face value,
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