Practicing Success
Assertion: Certificates of deposit (CD) are unsecured, negotiable, Long-term instruments in bearer form, issued by commercial banks and development financial institutions. |
Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A. Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. Assertion (A) is true but Reasoning (R) is not correct. Assertion (A) is not true but Reasoning (R) is correct. |
Assertion (A) is not true but Reasoning (R) is correct. |
The correct answer is Option 4: Assertion (A) is not true but Reasoning (R) is correct. Assertion: Certificates of deposit (CD) are unsecured, negotiable, long-term instruments in bearer form, issued by commercial banks and development financial institutions. This is incorrect. Certificates of deposit (CD) are unsecured, negotiable, short-term instruments (NOT LONG TERM AS MENTIONED in assertion) in bearer form, issued by commercial banks and development financial institutions. |