Redeemable debentures can be described as__________ Select one: a. debenture secured by either movable or immovable assets. The debenture holder has the right to claim repayment from the proceeds of the sale of assets. b. debentures that are not secured by any asset. The debentures holders have the same rights as any other creditor on the case of liquidation. c. debenture holders have the option to convert their debenture into specific shares after a specified period. d. debentures may be redeemed prior to the maturing date

Redeemable debentures can be described as__________ Select one: a. debenture secured by either movable or immovable assets. The debenture holder has the right to claim repayment from the proceeds of the sale of assets. b. debentures that are not secured by any asset. The debentures holders have the same rights as any other creditor on the case of liquidation. c. debenture holders have the option to convert their debenture into specific shares after a specified period. d. debentures may be redeemed prior to the maturing date

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter12: Liabilities: Off-balance-sheet Financing, Retirement Benefits, And Income Taxes

Section: Chapter Questions

Problem 2Q

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Secured debenture can be described as_______ Select one: a. debentures may be redeemed prior to the maturing date. b. debenture holders have the option to convert their debenture into specific shares after a specified period. c. debentures that are not secured by any asset. The debentures holders have the same rights as any other creditor on the case of liquidation. d. debenture secured by either movable or immovable assets. The debenture holder has the right to claim repayment from the proceeds of the sale of assets.
It refers to the right of mortgagor to redeem the mortgaged property after his default of the performance of his obligation by paying the secured obligation in order to prevent the public sale of his mortgaged property. a. Equity of redemption b. Right of redemption c. Right of preemption d. Equity of preemption
What is meant by issue of debentures as “Purchase Consideration”.
Which of the following security instruments, if any, does not allow the debtor the right of redemption upon default? a. Mortgage foreclosure by "action and sale" b. "Strict foreclosure" of mortgage c. Debtors have a right to redeem property under all of these security instruments. d. Deed of trust e. Mortgage foreclosure by "power of sale"
A release clause in a note and deed of trust is activated by a.the full satisfaction of the terms of the loan. b.the reconveying of the property to the trustee. c.the foreclosure on the property. d.the conveying of title to the trustee.
What is the process of abatement? Select one: a.The establishment of how the creditors will be paid. b.Payment of the claims of creditors. c.An attempt to determine the deceased's intentions when the terms of the will are unclear. d.Selling of assets included in an estate to be able to pay creditors. e.A reduction of various bequests when the estate is not adequate to satisfy them completely.
Which of the following best describes the accounting for discounts and premiums for bonds purchased by a fiduciary for an estate? a. Premiums are amortized, but discounts are not. b. Discounts are amortized, but premiums are not. c. GAAP guidelines for amortization are followed, i.e., both are amortized. d. Like bonds purchased prior to the death, neither discounts nor premiums are amortized.
Explain the rights of a creditor against a surety and the rights of a surety, including those of a cosurety.
In the foreclosure of there al property mortgaged in a contract of reale state mortgage, which of the following statements is correct? a. The mortgage e may recover the deficiency in the absence of stipulation to the contrary. b. The mortgag o risen titled to the excess in the absence of stipulation to the contrary. c. Bothaandb d. Neither a nor b
The sale with right to repurchase the property will be presumed equitable mortgage, when? a. When the price of a sale with right to repurchase is unusually inadequate b. When the vendee binds himself to pay the taxes on the thing sold c. When the vendee took over the property d. When the vendor does not want to deliver the property.
Examples of when an entity has retained substantially all the risks and rewards of ownership of transferred financial asset include A. All of these. B.A sale and repurchase transaction where the repurchase price is a fixed price or the sale price plus a lender's return. C.A sale of a financial asset together with a total return swap that transfers the market risk exposure back to the entity. D.A sale of short-term receivables in which the entity guarantees to compensate the transferee for credit losses that are likely to occur.
T/F 1. In conventional redemption, the creditors of the vendor may make use of the right of redemption against the vendee although they have not exhausted the properties of the vendor. In case of doubt, a contract purporting to be a sale with a right to repurchase shall be construed as an equitable mortgage. For an assignment of credit to be binding against third persons if a movable property is involved, the same must be in a public instrument and recorded in the Registry of Property. A debtor who has paid his creditor before he learns of the assignment of his debt shall be released from his liability to the assignee. The debtor's consent is required for the validity of the assignment of the credit made by his creditor to another person.