(I) Municipal bonds that are issued to pay for essential public projects are exempt from federal taxation. (II) General obligation bonds do not have specific assets pledged as security or a specific source of revenue allocated for their repayment

A) (I) is true, (II) false.
B) (I) is false, (II) true.
C) Both are true.
D) Both are false.

C

Business

You might also like to view...

Automated underwriting systems offer the following benefits EXCEPT:

(a) Immediate feedback for correcting deficiencies (b) Speed and low operating cost (c) Objective-free of discrimination (d) Reduced closing cost to borrower

Business

A low market-penetration index indicates ________

A) it will be expensive for the firms to attract the few remaining prospects B) substantial growth potential for all firms C) the rival firms try to capture greater market share by lowering their product price D) the profit margins of the firms decline E) the firms cannot raise demand substantially by raising its market expenditure

Business