what is a heiferettes?

[MiuMia]

Business English Lesson, Advanced Level

ESL/EFL Test #476 "Unsecured Debt", question 1

A ......... is a long-term debt instrument used by governments and large companies and is usually unsecured, in that there are no liens or pledges on specific assets; the advantage to the issuer is that they leave specific assets burden free, and thereby leave them open for subsequent financing.

(a) bill
(b) bond
(c) debenture
(d) note

Business English Lesson, Advanced Level

ESL/EFL Test #476 "Unsecured Debt", answer 1

A debenture is a long-term debt instrument used by governments and large companies and is usually unsecured, in that there are no liens or pledges on specific assets; the advantage to the issuer is that they leave specific assets burden free, and thereby leave them open for subsequent financing.

Correct answer: (c) debenture
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what is a heiferettes?

MiuMia

[Mister Micawber]

To my knowledge, it is not a word, but it may be a jocular coinage for a prepubescent girl.
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Native English teacher at Mister Micawber's