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anuong05 anuong05
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When a large amount of money is needed for a short amount of time, ________ is used as a short-term promissory note to repay a borrowed amount by a specified time with a specified interest rate.

▸ corporate bond

▸ factoring

▸ trade credit

▸ lease agreement

▸ commercial paper
Textbook 

Business in Action


Edition: 9th
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CodybarnesCodybarnes
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commercial paper

Commercial paper refers to short-term promissory notes, or contractual agreements, to repay a borrowed amount by a specified time with a specified interest rate. Commercial paper is usually sold only by major corporations with strong credit ratings, in denominations of $100,000 or more and with maturities of up to 270 days.

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