Which one of the following statements is correct concerning bond classifications?
A) A mortgage security is a bond issued solely by a home builder.
B) A debenture is a long-term bond secured by the fixed assets of a firm.
C) A note is a bond which has an original maturity date longer than 10 years.
D) A callable bond can be repurchased by the issuer prior to the initial maturity date.
E) A subordinated bond receives preferential treatment over all other bonds in a bankruptcy.
Correct Answer:
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