A Treasury Bill (T-Bill) is a money market instrument issued by the government that is characterized as a:

AHigh-coupon long-term bond

BDividend paying equity stock

CForeign currency debt

DZero-coupon discount security (issued at discount and redeemed at par value)

Explanation

Treasury bills do not pay periodic interest; they are sold at a discount to face value and redeemed at par.

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