Key Vocab Terms You Must Know For The 65:
Senior Debt. Senior debt is typically the safest and most secure type of bond in a corporate balance sheet. If the company ever ran into bankruptcy problems, the first type of bond to be paid would be the senior obligation bonds. But note that senior bonds would come behind primary vendor bills and IRS taxes.
Next are junior obligation bonds. Same idea as seniors, just one notch back.
There are other bonds that are backed only by specific assets of a...
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