A document which acknowledges that a company owes a named person a stated sum of money with the promise that a stated interest rate will be paid periodicall...
Question 1 Report
A document which acknowledges that a company owes a named person a stated sum of money with the promise that a stated interest rate will be paid periodically is called
Answer Details
A document which acknowledges that a company owes a named person a stated sum of money with the promise that a stated interest rate will be paid periodically is called a debenture certificate. Debentures are long-term loan instruments issued by a company that carry a fixed rate of interest and are usually secured against the assets of the company. The holder of a debenture is a creditor of the company, and the company is obligated to repay the principal amount of the debenture along with the interest as per the terms of the debenture certificate.
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