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QUESTION 11-BONDS PAYABLE (5 marks) Required: In your own words (do not simply copy In your own words do not simply copy a response from

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QUESTION 11-BONDS PAYABLE (5 marks) Required: In your own words (do not simply copy In your own words do not simply copy a response from the textbook or the internet) answer the following questions: a) Describe what a bond is? (2 marks) b) For the issuer of the bond, why would they prefer to issue bonds over shares? (2 marks) c) On a balance sheet should a bond be classified as a liability or equity? (1 marks) ACCT1117 Winter 2020 Assignment #1 - Version A Page

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