Most of the Bonds That Are Bought and Sold Are

question 47

Multiple Choice

Most of the bonds that are bought and sold are not transacted on the organized exchanges.They are bought and sold through bond dealers who do not sell many ________ bonds but do trade many ________ bonds in the secondary market.

• A)corporate;government
• B)high par value;corporate
• C)government;low par value
• D)corporate;firm-specific bonds

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Definitions:

Qualifying Expenses

Expenses that are determined to be necessary and deductible under tax law for various benefits like education savings accounts or business expenses.

Child and Dependent

Terms used in tax law to refer to individuals for whom the taxpayer provides more than half of financial support, qualifying the taxpayer for certain deductions.

Care Expense Credit

A tax credit available for expenses incurred in caring for a qualifying individual to allow the taxpayer to work or look for work.

AGI

Adjusted Gross Income, which is gross income minus adjustments; a key measure used to determine tax liabilities and eligibility for credits.