Define debenture

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter16: Tax Research
Section: Chapter Questions
Problem 3DQ
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Define debenture

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Debentures will be issued by corporations and governments to raise the funds easily from the public and pays interest rate at fixed rate. Holder of the debenture is called as creditor of the company.

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