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Instructions Question 1 Two purposes of commercial paper are to serve as a substitute for money and as a credit vehicle True False Question 2

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Instructions Question 1 Two purposes of commercial paper are to serve as a substitute for money and as a credit vehicle True False Question 2 10 A signature may consist of a parties initials. True False 10 pts D Question 3 The notation "without recourse" may be used by someone who indorses an instrument to avoid liability for payment on the instrument. True False

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