_______,also called financial instruments,represent obligations on the part of the issuers-businesses and governments-to provide the purchasers with expected or stated returns on the funds invested or loaned.

A) FDIC
B) Exchanges
C) The Fed
D) Securities

Securities

Financial instruments that represent obligations on the part of the issuers to provide the purchasers with expected stated returns on the funds invested or loaned.

Financial Instruments

Contracts and securities that represent a financial value or obligation, such as stocks, bonds, options, and futures.