A long-term note may be secured by a document called a
A)premium.
B)debenture.
C)bond.
D)mortgage.

Question

Quizplus · Accepted Answer

A mortgage is a legal document that pledges a property to secure a loan, making it the best choice for a long-term note. A premium is an additional amount paid for a product or service, a debenture is an unsecured bond not backed by any collateral, and a bond is a debt instrument that can be secured or unsecured.

A Long-Term Note May Be Secured by a Document Called