(I) Municipal bonds that are issued to pay for essential public projects are exempt from f
(I) Municipal bonds that are issued to pay for essential public projects are exempt from federal taxation. (II) General obligation bonds do not have specific assets pledged as security or a specific source of revenue allocated for their repayment.
A、(I) is true, (II) false.
B、(I) is false, (II) true.
C、Both are true.
D、Both are false.