Treasury bills are financial instruments issued by ________ to raise funds.

A) commercial banks
B) the federal government
C) large corporations
D) state and city governments

Treasury Bills

Treasury Bills (T-Bills) are short-term U.S. government debt obligations with a maturity of one year or less, considered a safe investment due to government backing.

Financial Instruments

Contracts that give rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Federal Government

A system of government where powers and responsibilities are divided between a national government and smaller administrative divisions.