13.

Which one of the following statements is NOT right?

A. A debenture is unsecured.

B. Sinking fund is designed to ease the burden of principal repayment by spreading it out over time.

C. A dividend restriction clause is something you might find in a bond indenture.

D. A callable bond is a bond where the bondholder has the right to cash in the bond with the issuer before maturity at a specific price after a specific date.

E. None of the above/below