Which of the following money market securities is issued to assist a corporation in managing its cash flow?

Commercial paper is a short-term, unsecured debt instrument issued by corporations to finance their immediate cash flow needs. It typically has maturities that range from a few days to up to one year and is often used to cover short-term liabilities or operational costs. By issuing commercial paper, corporations can efficiently manage their cash flow without needing to resort to bank loans, which may come with higher interest rates or more stringent terms.

In contrast, other money market securities serve different purposes. For example, banker's acceptances are used primarily in international trade as a guarantee of payment, treasury bills are short-term government securities that serve as safe investments for funding governmental operations, and certificates of deposit are time deposits offered by banks that pay a fixed interest rate over a specified term. Each of these instruments plays a unique role in the financial markets, but commercial paper is distinctly designed to help corporations manage their working capital needs effectively.