Single-state municipal bond fund


A mutual fund investing only in government obligations within a single state, with state tax-free dividends, but taxed capital gains.

Investing Essentials

Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Acid test ratio

Also called the quick ratio, the ratio of current assets minus inventories, accruals, and prepaid items to current liabilities.

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