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What is meant by senior debt?

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What is meant by senior debt?

What is meant by senior debt?
A) debt that has been around for the longest period of time
B) debt that must be paid before junior debt is paid
C) debt owed to the federal government
D) debt issued by the federal government as opposed to states or corporations

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Money, Banking, and the Financial System

Money, Banking, and the Financial System

Edition: 3^rd

Authors: Hubbard, O'Brien

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