NO.PZ2016031001000025
问题如下：
The benefit to the issuer of a deferred coupon bond is most likely related to:
选项：
A. tax management.
B. cash flow management.
C. original issue discount price.
解释：
B is correct.
Deferred coupon bonds pay no coupon for their first few years but then pay higher coupons than they otherwise normally would for the remainder of their life. Deferred coupon bonds are common in project financing when the assets being developed may not generate any income during the development phase, thus not providing cash flows to make interest payments. A deferred coupon bond allows the issuer to delay interest payments until the project is completed and the cash flows generated by the assets can be used to service the debt.
从Tax角度也有好处吧