Which One of the Following Statements Is True

Multiple Choice

Which one of the following statements is true?

A) Promissory notes are sold with contingent liability in the secondary market.
B) Both commercial bills and promissory notes are sold with contingent liability in the secondary market.
C) Commercial bills are sold with contingent liability in the secondary market, whereas promissory notes are sold without contingent liability.
D) Promissory notes and commercial bills are both sold without contingent liability in the secondary market.