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QUESTION 34 Which of the following statements is correct? a. Bonds are long-term debt secured by company assets. b. Debentures are long-term unsecured debt. c.

QUESTION 34

Which of the following statements is correct?

Bonds are long-term debt secured by company assets.

Debentures are long-term unsecured debt.

Notes are short-term debt and may be secured or unsecured

All the above are correct.

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