Short term promissory notes and are unsecured, not collateralized against securities is classified as

A. notes payable

B. notes receivable

C. commercial paper

D. commercial notes

Answer: Option C

Solution(By Examveda Team)

Short term promissory notes and are unsecured, not collateralized against securities is classified as commercial paper. Commercial paper is an unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts payable and inventories and meeting short-term liabilities.