Which of the Following Statements Is/are Correct

question 135

Multiple Choice

Which of the following statements is/are correct?
I.There is a minimum allowable standard deduction from adjusted gross income of individuals.
II.Corporations are allowed deductions from adjusted gross income.
III.Corporations are allowed a standard deduction.
IV.Personal exemptions of individuals are deductible for adjusted gross income.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Statements II and IV are correct.
• D)Statements I and IV are correct.
• E)Statements I and III are correct.

---

Definitions:

Parents

The caregivers of a child, who may be biological, adoptive, step, or foster guardians.

Children

Young human beings, usually considered to be from birth until puberty but definitions may vary.

Late Adulthood

A life stage typically defined as beginning at the age of 65 and encompassing the final years of life, marked by both physical and cognitive changes.

Friendships

Close bonds between two individuals, marked by feelings of care, respect, and admiration.