A. is a non-negotiable instrument
B. represents shares issued in local currency
C. is issued by custodian
D. is issued for safe custody of articles
✅ The correct answer is option B.
A depository receipt represents shares issued in local currency. A depositary receipt (DR) is a negotiable financial instrument issued by a bank to represent a foreign company’s publicly traded securities.
A depository receipt represents shares issued in local currency. A depositary receipt (DR) is a negotiable financial instrument issued by a bank to represent a foreign company’s publicly traded securities.