What is commercial paper? (Choose an answer from the list below; only one is correct) Reference: Textbook, Chapter 5 Bonds sold by a state or local government to finance a specific revenue-generating project. Short-term loans between financial institutions, usually for a period of one day. An agreement involving the purchase of securities by one party from another with the promise to sell them back. A type of short-term secured loan where one party sells securities to another and agrees to repurchase those securities later at a higher price. A time draft payable to a seller of goods, with payment guarnteed by a bank. Short-term obligations of the US government issued to cover government budget deficits or refinance maturing government debt An unsecured short-term promissory note issued by a corporation to raise short-term cash, typically with a maturity of less than 270 days