Which of the following is true of commercial paper? It is only sold for durations of two years or more. It is backed only by the name and reputation of the issuing company. It is only sold to sole proprietors and small businesses. It is the most popular long-term investment for small businesses. It acts as a verbal promise to pay a specific amount of money. Question 47 2 pts Serial bonds are a sequence of small bond issues of progressively longer maturity. True False