The correct answer is: B. debenture
A debenture is an unsecured bond that provides no lien against property as security for bond obligation. Debentures are issued by companies and governments to raise money. They are considered to be a riskier investment than secured bonds, because there is no collateral backing them up. However, they also offer a higher interest rate.
A secured bond is a bond that is backed by collateral, such as property or equipment. This means that if the issuer of the bond defaults on its payments, the bondholders can seize the collateral to satisfy their claims. Secured bonds are considered to be a safer investment than unsecured bonds, because there is something to fall back on if the issuer defaults.
An obligation bond is a bond that is issued by a government or municipality. Obligation bonds are considered to be very safe investments, because governments and municipalities are unlikely to default on their debts.
A specific bond is a bond that is secured by a specific asset, such as a piece of property. Specific bonds are considered to be riskier investments than obligation bonds, because the value of the asset backing the bond can fluctuate.
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