i. It represents a promise to pay a fixed amount of money at a specific point of time in future. |
ii. It can also be encashed earlier through discounting process of a commercial bank. |
iii. It acknowledges an amount of money owed in consideration of goods received. |
A) (ii) only
B) (i) and (iii)
C) (i) and (ii)
D) (i), (ii) and (iii)
E) None of these
Correct Answer: D
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