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.
Correct Answer:
Verified
Correct Answer:
Verified
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