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NEW QUESTION: 1
Bubba buys a municipal bond at 102 and holds it ten years to maturity. For tax purposes, how is that
premium treated?
A. carried forward as a premium loss applied against profits realized on future municipal securities
B. amortized over the life of the bond resulting in no loss at maturity
C. an ordinary loss taken as a deduction from taxable income
D. recorded as a long-term capital loss
Answer: B
Explanation:
amortized over the life of the bond resulting in no loss at maturity. For tax purposes,
premiums are amortized over the life of the bond. Some amount is taken each year.

NEW QUESTION: 2
The buyer and seller are bound by the ________.
A. Responsibilities
B. Contract
C. WBS
D. Identification
Answer: B
Explanation:
The buyer and seller are bound by the contract.

NEW QUESTION: 3
What does the bill of material usage (BOM usage) control at the BOM item level?
Response:
A. Default values for the item status
B. Allowed material type
C. Default unit of measure
D. Maximum allowed low-level code
Answer: B