Debenture

A debenture is a form of loan. It is a written acknowledgement of a debt by a business that normally containing provisions as to payment of interest and the terms of repayment of principal. A debenture may be secured on some or all of the assets of the business or its subsidiaries.

 

reference: Business Studies / Accounting. Accounts & Finance Glossary. Jim Riley BA(Hons) MBA FCA // tutor2u

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