Which of the following statement is correct? O Commercial paper consists of secured notes issued by small corporations for periods up to 180 days. O The cost of trade credit is calculated by dividing the amount of the discount offered by the supplier by the amount the buyer owes. O For unsecured short-term loans, lenders require long-term assets as a collateral because they are generally more liquid than short-term assets and are easier to convert to cash if the borrower defaults on the loan. O All the answers are incorrect. O Only smallest corporations sell commercial paper because only they can attract investors who will lend them money for higher rates than banks charge for short-term loans. hs