A ____________ is a short-term debt instrument issued by commercial banks in denominations of $100,000 or more with typical maturities ranging from one month to one year that have an active secondary market that allows short-term investors to easily match their cash or liquidity needs when they arise.
a. negotiable certificate of deposit (NCD)
b. repurchase agreement
c. government bond
d. money market security
e. none of the above
Ans: a. negotiable certificate of deposit (NCD)
Business
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