问题如下图：
选项：
A. 
B. 
C. 
解释：
两个问题：
1.为什么对INVESTORS来讲，可以避税
2.C选项是什么意思呢？我理解的是IISUERS可以以DISCOUNT PRICE发型，感觉也是一个好处。
吴昊_品职助教 · 2019年08月20日
1.对于投资者来说，前期收不到coupon，就不需要交interest income tax。了解一下这个结论即可。
2.Original Issue Discount 是指债券在发行时，折价发行的债券。例如，Zero-coupon bond （ZCB）就属于 Original Issue Discount。对于发行人来说，以折价发行债券能融得的资金就少，不是好处。
ZAA · 2019年08月21日
这个duscount bond不是座位interest来交税？这不是还交税了？为啥少呢
吴昊_品职助教 · 2019年08月21日
是前期不交税，这样就有一个晚交税的好处。
NO.PZ2016031001000025 cash flow management. originissue scount price. B is correct. ferrecoupon bon pno coupon for their first few years but then phigher coupons ththey otherwise normally woulfor the remainr of their life. ferrecoupon bon are common in projefinancing when the assets being velopemnot generate any income ring the velopment phase, thus not proving cash flows to make interest payments. A ferrecoupon bonallows the issuer to linterest payments until the projeis completeanthe cash flows generatethe assets cuseto servithe bt.从Tax角度也有好处吧
cash flow management. originissue scount price. B is correct. ferrecoupon bon pno coupon for their first few years but then phigher coupons ththey otherwise normally woulfor the remainr of their life. ferrecoupon bon are common in projefinancing when the assets being velopemnot generate any income ring the velopment phase, thus not proving cash flows to make interest payments. A ferrecoupon bonallows the issuer to linterest payments until the projeis completeanthe cash flows generatethe assets cuseto servithe bt. 请问对投资人来说怎么样避税呢？
、我看讲义说的是te clayed
为什么是现金流管理？