Question
Verbal Reasoning Question on Statements and Inferences
Given below are two statements :
Statement I: Commercial paper is an unsecured short term promissory note, negotiable and transferable by endorsement and delivery with a fixed maturity period.
Statement II: commercial Bills are short-term negotiable and self liquidating instrument with low risk.
In the light of the above statements, choose the most appropriate answer from the options given below:
A
Both Statement I and Statement II are correct
B
Both Statement I and Statement II incorrect
C
Statement I is correct but Statement II is incorrect
D
Statement I is incorrect but Statement II is correct
Answer
Both Statement I and Statement II are correct
Explanation
Solution
The correct answer is (A) : Both Statement I and Statement II are correct.