A long-term bond that is not secured by a mortgage on specific property is called:

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Multiple Choice

A long-term bond that is not secured by a mortgage on specific property is called:

Explanation:
Unsecured debt is backed only by the issuer’s credit, not by specific assets. A debenture is the term used for a long‑term corporate bond that isn’t secured by a mortgage on property. Mortgage bonds are secured by real estate, and revenue bonds are secured by project revenues, so they aren’t unsecured. A “secured debt security” is just a broad category for debt backed by collateral, which doesn’t describe this instrument. So the bond described is a debenture.

Unsecured debt is backed only by the issuer’s credit, not by specific assets. A debenture is the term used for a long‑term corporate bond that isn’t secured by a mortgage on property. Mortgage bonds are secured by real estate, and revenue bonds are secured by project revenues, so they aren’t unsecured. A “secured debt security” is just a broad category for debt backed by collateral, which doesn’t describe this instrument. So the bond described is a debenture.

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