Define tax-exempt bonds

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter15: Choice Of Business Entity—other Considerations
Section: Chapter Questions
Problem 37DQ
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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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