Some companies obtain funds by issuing an instrument that is backed by other instruments. For example, a

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Some companies obtain funds by issuing an instrument that is backed by other instruments. For example, a bank may issue an instrument that promises to pay interest from a portfolio of mortgages it holds. The return on such an instrument is derived from the underlying mortgages, and the instrument is therefore called a d _____ ive.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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