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
Correct Answer:
Verified
Correct Answer:
Verified
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