AC & Auditing Q.109
0. Which of the following statements about debentures is incorrect?
- A
Unlike shares, debentures may be issued at a premium or discount.
- B
Under the Act, debentures exclude unsecured notes and convertible notes.
- C
Debentures usually represent secured, long-term liabilities on which interest must be paid.
- D
The issue of debentures must be preceded by the issue of a disclosure document.
