Bond Premium on Tax-Exempt Bonds Must Be Amortized

question 53

True/False

Bond premium on tax-exempt bonds must be amortized.The annual amortization reduces the owner's taxable income and decreases the adjusted basis for the bond.

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The gross domestic product measured at current market prices, not adjusting for inflation, reflecting the value of all goods and services produced.

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The mean of present prices for all goods and services produced within an economy, typically gauged by a price index.

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