A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as?

Assessment: JAMB UTME - Commerce - 2003 Subject: Commerce

Question 1 Report

A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as?
Answer Details
A type of long-term loan that has a fixed interest rate and can be redeemed or irredeemable is referred to as a debenture. A debenture is usually issued by a company and it represents a loan that the company has taken from investors. The debenture holders are considered creditors of the company and have a claim on the company's assets. Debentures are often used by companies as a way to raise long-term capital for their operations.
Read lesson note on Financing Business (JAMB)
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