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WAEC Commerce 2000 Question 10

Question 10

Business Finance

A debenture is mortgaged when it is

  1. A.not secured on the assets of a company
  2. B.secured on the assets of a company
  3. C.irredeemable
  4. D.redeemable
Show the answer and explanation

Answer: B (secured on the assets of a company)

Explanation

A mortgage debenture is secured on (charged against) the company's assets.