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FINRA Series 7

Category - Series 7

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Bubba Corporation owes income tax. Which of the following may be tendered at par value for payment of the tax?

term bond
tax anticipation bill
special tax bond
pre-issue bond

Explanation

Answer: B - tax anticipation bill. These are specifically designated securities that may be used at face value for payment of corporate taxes.

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FINRA Series 7

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FINRA Series 7

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