Which of the following phrases defines the nature of the 'Hundi' generally referred to in the sources of the post-Harsha period?

1. The term 'Hundi' as referred to in historical sources, particularly during the medieval and post-Harsha period in India, defines a financial instrument. 2. It functioned essentially as a bill of exchange. 3. Hundis were used for transferring money from one place to another without the physical movement of currency, as credit instruments for borrowing money, and in trade transactions. 4. They were not an advisory issued by the king (A), a diary for daily accounts (B), or an order from a feudal lord (D). 5. Therefore, the most accurate description of the nature of a Hundi is a bill of exchange.