Which of the following regarding corporate debentures are TRUE?
They are certificates of indebtedness.
They give the bondholder ownership in the corporation.
They are unsecured bonds issued to finance capital expenditures or to raise working capital.
They are the most senior security a corporation can issue.
A) III and IV.
B) I and III.
C) I and II.
D) II and IV.
Answer: B) I and III.