A moral obligation bond is also known as:A. a gene
A moral obligation bond is also known as:
A. a general obligation debt.
B. a prerefunded bond.
C. an appropriation-backed obligation.
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2024-11-14 22:01:12
Ans:C;
A moral obligation bond is also known as an appropriation-backed obligation. States sometimes act as a back up source of funds for issuers and may appropriate funds from its general fund during times of shortfall. However, the state’s obligation is not legally binding, but is a “moral obligation.”
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