Which of the Following Accounts Has Special Tax Advantages Under

question 86

Multiple Choice

Which of the following accounts has special tax advantages under certain conditions when used to fund qualified college education expenses?

• A)Certificate of deposit
• B)U.S. Treasury bill
• C)Series EE savings bonds
• D)Money market mutual fund
• E)Regular savings

---

Definitions:

Shares Outstanding

The total number of a company's shares that are owned by shareholders, including both public and private entities, available in the market.

Current Asset

Assets that are expected to be converted into cash, sold, or consumed within one year or the normal operating cycle of the business, whichever is longer.

Statement Of Financial Position

Another term for a balance sheet; it shows a company's assets, liabilities, and equity at a specific point in time.

Intangible Asset

An asset that lacks physical substance but provides economic benefits to its owner, such as trademarks, patents, and goodwill.