Negotiable instruments can be used either as a substitute for money or as a means of extending credit.

Name: Negotiable instruments can be used either as a substitute for money or as a means of extending credit.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Negotiable instruments, such as checks, promissory notes, and bills of exchange, can function both as substitutes for cash in transactions and as tools for extending credit by allowing payment to be deferred to a future date.

Negotiable Instruments Can Be Used Either as a Substitute for Money