Which of the following is the most inappropriate explanation on financial assest

Question

Which of the following is the most inappropriate explanation on financial assests?

A. Deposit of commercial banks at the federal reserve are federal funds

B. The interest income from a municipal bond is exempt from federal income taxation.

C. Ginnie Mae is not a nickname for an agency associated with the mortgage markets D. Commercial paper is a short-term security issued by a large company to raise funds

E. The interest income from a muni is exempt from state and local taxation in the issuing state

Explanation / Answer

Answer:

Option C is the answer

Ginnie Mae is a government owned corporation established to promote home ownership and it is associated with the mortgage market.

Except option C all are the well known appropriate explanations .

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