Unsecured bonds which is designated for only notes payable or all other debts are classified as
A. designated bonds
B. payable bonds
C. ordinate bonds
D. subordinated bonds
Answer: Option D
Solution (By Examveda Team)
Unsecured bonds which is designated for only notes payable or all other debts are classified as subordinated bonds. Subordinated debt is a loan or security that ranks below other loans or securities with regard to claims on assets or earnings. Subordinated debt is also known as a junior security or subordinated loan.This Question Belongs to Commerce >> Financial Management
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