QUESTION 2 mcqs

A bill of exchange differs from a promissory note in that:

A.only promissory notes have an active secondary market

B.a promissory note is a short-term instrument, whereas a bill of exchange is not necessarily short-term

C.there is generally an issuer and an acceptor for a bill of exchange, whereas there is no acceptor involved for a promissory note

D.bills of exchange are only used for trade transactions