Answer the following statements true (T) or false (F)
1. Long-term liabilities can be structured either with an equal principal payment or with an equal total payment.
2. Bonds are short-term debt issued to multiple lenders called bondholders, usually in increments of $1,000 per bond.
3. On the maturity date, the bondholder is paid the face amount of the bond plus the last interest payment.
4. Secured bonds give bondholders the right to take specified assets of the issuer if the issuer fails to pay principal or interest.
5. Debentures are bonds that mature in installments at regular intervals.
6. Debentures are backed only by the goodwill of the bond issuer.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. FALSE - Explanation: Serial bonds are bonds that mature in installments at regular intervals.
6. TRUE
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