Exhibit 21-12 ​

question 10

Multiple Choice

Exhibit 21-12
​

-Refer to Exhibit 21-12 above. The numbers that go in blanks (A) , (B) , (C) , and (D) , respectively, are

• A)12, 13, 14 and 12.
• B)12, 25, 39 and 51.
• C)12, 11, 10 and 9.
• D)12, 14, 13 and 11.
• E)none of the above

---

Definitions:

Municipal Bonds

Tax-exempt bonds issued by state and local governments. General obligation bonds are backed by the general taxing power of the issuer. Revenue bonds are backed by the proceeds from the project or agency they are issued to finance.

Debt Obligation

A commitment to repay borrowed money, typically in the form of loans or bonds, with specific terms and interest rates.

Treasury Inflation-Protected Securities (TIPS)

Government bonds whose principal value is adjusted based on changes in the inflation rate, protecting investors from inflation.