Q. Which of the following is not a characteristic of a financial instrument? (Solved)
1. The financial instrument is always issued by a bank.
2. A financial instrument is a written legal obligation of one party to transfer something of value, usually money.
3. The transaction in a financial instrument is specified to take place at a future date.
4. A financial instrument specifies certain conditions.
- a. The financial instrument is always issued by a bank.