Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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What is commercial paper?
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Step 1
Commercial paper: It is a short term obligation of a company to finance for paying its bills payable, trade payable or its accounts payable. It is an unsecured promissory note with a fixed maturity of less than 9 months. Commercial papers are unsecured debt. They are not backed by any collateral, Companies having high credit ratings issue commercial paper generally.
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