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Board Question Paper : July 2019 — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountBoard Question Paper : July 20191 Mark
Question
What is debenture ?
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Answer

Companies carrying on business have the inherent power or authority to borrow money. Based on this inherent power, companies borrow long term funds from the public. Against the money so borrowed or investment, the company issues a document or certificate acknowledging its is known as debenture.

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