26.Which of the following statements is/are not false? Statement 1: Bank Drafts are commitments by banking institutions to advance funds on demand by the party to whom the drafts was directed....

26.Which of the following statements is/are not false?


Statement 1:  Bank Drafts are commitments by banking institutions to advance funds on demand by the party to whom the drafts was directed.


Statement 2:  Financial Assets is a contractual obligation to deliver cash or another financial asset to another entity.



Statement 3:  Examples of equity instruments are ordinary shares, preference shares, and warrants.


Statement 4:  Derivatives derive their value on contractually required cash flows from some other security or index and is not considered as financial instrument.