Define tax-exempt bonds

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter14: Investing In Stocks And Bonds
Section14.5: Investing In Bonds
Problem 3CC
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Define tax-exempt bonds

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Bonds are the liabilities of the company which is issued to raise the funds required to finance the capital requirement of the company. The company needs to pay interest expenses against the bonds financing. 

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