An exemption affects a person's tax situation by
A) increasing the standard deduction.
B) increasing the taxpayer's marginal tax rate.
C) decreasing itemized deductions.
D) reducing the taxpayer's taxable income.
E) increasing tax-exempt income.
Ans: D) reducing the taxpayer's taxable income.
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A) a user service B) an attendant service C) a management service
Which one of the following statements is true?
a. When a company uses a subsidiary ledger, the balance in the control account, Accounts Receivable, shows only the amount the company expects to collect from the accounts receivable, net of any expected uncollectible accounts. b. An accounts receivable subsidiary ledger represents amounts due to vendors and suppliers. c. The balance in the control account, Accounts Receivable, should be equal to the sum of the balances in the subsidiary ledger for accounts receivable. d. A subsidiary ledger takes the place of the control account for some companies.