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:

Opinions

Personal views, judgments, or beliefs about a particular topic, which can vary widely between individuals.

Formal Reasoning

The ability to think logically and systematically about abstract concepts and hypothetical situations, typically developing during adolescence.

Nonconscious Responding

Processes that occur without conscious awareness or control, including physiological responses and some behaviors that are automatic or habitual.

"Reasonable."

Being in accordance with logic, fairness, or moderate estimation; often used to describe actions or thoughts that are justified under the circumstances.