A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is
A) the standard deduction.
B) a tax credit.
C) an itemized deduction.
D) an exclusion.
E) an exemption.
Answer: E) an exemption.
Business
You might also like to view...
Under the perpetual inventory system, a company purchases merchandise on terms 2/10, n/30. If payment is made within 10 days of the purchase, the entry to record the payment will include a credit to Cash and a credit to Purchase Discounts
Indicate whether the statement is true or false
Business
If you are responding favorably to your customer's claim, the best opening is an apology
Indicate whether the statement is true or false
Business