The Unsecured Debts of a Firm with Maturities Less Than

question 21

Multiple Choice

The unsecured debts of a firm with maturities less than 10 years are most literally called:

• A)unfunded liabilities.
• B)sinking funds.
• C)bonds.
• D)notes.
• E)debentures.

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Definitions:

Navigation Acts

A series of English (later British) laws that regulated trade and commerce between England (later Great Britain) and its colonies to enrich the mother country.

Tories

A political faction and then party in Great Britain that evolved into the Conservative Party, traditionally representing royalist, Anglican, and later conservative interests.

Charles II

A king of England, Scotland, and Ireland who reigned during the Restoration period after the English Civil War.