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Which is a discount security and is traded in the money

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Reference no: EM132649678

Problem 1: Which of the following statements is true?

a. Assessable income may be increased by allowable deductions.

b. Assessable income equals taxable income plus legitimate deductions.

c. Both a and b

d. None of the above

Problem 2: Which of the following is a discount security and is traded in the money market?

a. A share

b. A debenture

c. A commercial bill

d. A corporate bond

Reference no: EM132649678

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