What is general obligation bonds?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1Q: What is the difference between callable and putable bonds?
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What is general obligation bonds?

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Bonds:

A bond, also recognized as a fixed-income security, is a debt instrument shaped for the determination of raising capital. They are basically loan contracts among the bond issuer and a saver, in which the bond issuer is indebted to pay a stated amount of money at stated upcoming dates.

Bond is a kind of debt instrument typically issued by corporations, government organizations and universities is usually utilized for the purpose of raising fund for companies or governmental agencies.

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