ACCT 320-S owns an extensive stocks and bonds portfolio
by | Mar 18, 2020 | Uncategorized
S owns an extensive stocks and bonds portfolio. When he sells his tax-exempt municipal bonds at the end of the year, which of the following best describes S’s action?
a. S will likely realize a gain or loss.
b. S will have to pay the city a 10 percent penalty on the premature sale of the bonds.
c. S will not be allowed to reacquire similar municipal bonds for two years.
d. b and c
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