Which of the Following Are True Statements About T-Bills

question 19

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:

Amendment

A formal or official change made to a law, contract, constitution, or other legal document.

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate commerce with foreign nations, among the several states, and with the Indian tribes.

Labor Relations

The study and practice of managing unionized employment situations, including negotiations between employers and labor unions.

Interstate Commerce

refers to any business or trade activities that cross state lines or affect more than one state in the United States, subject to federal regulation.