Define a Long-Term Fund and List the Three Most Common

question 122

Short Answer

Define a long-term fund and list the three most common long-term funds that a company would report as investments on its balance sheet.

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Definitions:

Nonsecured Debt

A type of debt that is not backed by collateral, meaning the lender does not have a claim on any specific asset of the borrower if the debt is unpaid.

Bankruptcy Action

A legal proceeding involving a person or business that is unable to repay outstanding debts.

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