Midterm Exam Question 15 Answer

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Midterm Exam Question 15

 

Which of the following bonds do not generate tax exempt Federal income?

  1.   bonds issued by fire districts
  2. bonds issued by cities
  3. U.S. Treasury bonds
  4. school district bonds

 

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This question is taken from Accounting 015 – Tax Accounting I » Spring 2021 » Midterm Exam