With most bond issues, a corporation retains the right to pay off the bonds before maturity. Such bonds are called ________
A) secured bonds
B) fixed bonds
C) debentures
D) callable bonds
E) convertible bonds
Answer: D
Explanation: With most bond issues, a corporation retains the right to pay off the bonds before maturity. Bonds containing this provision are known as callable bonds, or redeemable bonds.
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