Which of the Following Statements Is False

Which of the following statements is false?

A) Unlike long-term debt, because of its short maturity, commercial paper is not rated by credit rating agencies.
B) The interest on commercial paper is typically paid by selling it at an initial discount.
C) Commercial paper is short-term, unsecured debt used by large corporations that is usually a cheaper source of funds than a short-term bank loan.
D) Extending the maturity of commercial paper beyond 270 days triggers a registration requirement with the Securities and Exchange Commission (SEC) , which increases issue costs and creates a time delay in the sale of the issue.