Which of the Following Are True Statements About T-Bills

question 9

Multiple Choice

Which of the following are true statements about T-bills?
I.T-bills typically sell in denominations of $10,000
II.Income earned on T-bills is exempt from all Federal taxes
III.Income earned on T-bills is exempt from state and local taxes

• A) I only
• B) I and II only
• C) I and III only
• D) I, II and III

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Definitions:

Shareholder's Derivative Suit

A lawsuit filed by a shareholder on behalf of a corporation against a third party, often an insider of the corporation, alleging harm to the corporation.

Dividend

A distribution of corporate profits or income ordered by the directors and paid to the shareholders.

Direct Suit

A legal action initiated directly against an individual or entity without the need for intermediary processes.

Administrative Complaint

A formal allegation or charge filed with a governmental or regulatory agency, often related to violations of laws or regulations.