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tatement 1: Short-term debt instruments, both personal and corporate, come in the form of obligations expected to be repaid within one calendar year. Credit card bills, payday loans and other consumer loans that have repayment of more than 12 months are some of the examples of short-term debt instruments. Statement 2: Long-term debt instruments in personal finance are usually mortgage payments or car loans. Debt security refers to a debt instrument, such as government bond, corporate bond, certificate of deposit True or False for the two statemen

tatement 1: Short-term debt instruments, both personal and corporate, come in the form of obligations expected to be repaid within one calendar year. Credit card bills, payday loans and other consumer loans that have repayment of more than 12 months are some of the examples of short-term debt instruments. Statement 2: Long-term debt instruments in personal finance are usually mortgage payments or car loans. Debt security refers to a debt instrument, such as government bond, corporate bond, certificate of deposit True or False for the two statemen

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Statement 1: Short-term debt instruments, both personal and corporate, come in the form of obligations expected to be repaid within one calendar year. Credit card bills, payday loans and other consumer loans that have repayment of more than 12 months are some of the examples of short-term debt instruments.

Statement 2: Long-term debt instruments in personal finance are usually mortgage payments or car loans. Debt security refers to a debt instrument, such as government bond, corporate bond, certificate of deposit

True or False for the two statements

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