A Major Difference Between a Bank's Term Deposit and a Certificate

A major difference between a bank's term deposit and a certificate of deposit is:

A) a term deposit represents an asset for a bank, while a certificate of deposit is a liability.
B) a certificate of deposit does not pay interest until maturity.
C) a certificate of deposit is illiquid when compared with a term deposit.
D) a certificate of deposit is a high-credit-risk instrument when compared with a term deposit.

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