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Which of the following are characteristics of a bond? 1. Bondholders are first paid before stockholders in liquidation of a company II. Lower relative risk

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Which of the following are characteristics of a bond? 1. Bondholders are first paid before stockholders in liquidation of a company II. Lower relative risk for stockholders verses bondholders III. They are rated by agencies from AAA+ to D (junk) IV. The stock market is larger than the bond market

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