Which of the Following Is Not a True Statement Regarding

question 41

Multiple Choice

Which of the following is not a true statement regarding municipal bonds?

• A) A municipal bond is a debt obligation issued by state or local governments.
• B) A municipal bond is a debt obligation issued by the federal government.
• C) The interest income from a municipal bond is exempt from federal income taxation.
• D) The interest income from a municipal bond is exempt from state and local taxation in the issuing state.

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