Municipal bonds generally appeal to investors A) in low ...

[khang]

Municipal bonds generally appeal to investors
 
  A)
 
  in low marginal tax brackets.
  B)
 
  in low marginal tax brackets, but who also seek to defer income to later years.
  C)
 
  in high marginal tax brackets.
  D)
 
  in high marginal tax brackets, but who also seek to defer income to later years.

Question 2

Utilizing past cost and expense ratios (percent-of-sales method) when preparing pro forma financial statements will tend to ________.
 
  A) understate profits when sales are decreasing
  B) understate profits when sales are increasing
  C) overstate profits when sales are increasing
  D) neither understate nor overstate profits

[JYan]

Answer to Question 1

C

Answer to Question 2

B