Which of the following is TRUE?

A) A bond's price moves to par value as it approaches maturity.
B) Debentures are riskier investments than mortgage bonds.
C) Most bonds are purchased by individual investors rather than by institutions.
D) Both a & b
E) All of the above

Debentures

Long-term securities issued by companies to borrow money, often with a fixed rate of interest.

Mortgage Bonds

Bonds secured by real estate or physical equipment that can be sold in case the bond issuer defaults.

Individual Investors

Private individuals who invest their own money in various financial instruments, such as stocks, bonds, or real estate, aiming to achieve personal financial goals.