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Which of the following statements is/are correct about bills of exchange?

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