In Determining the Standard Deduction, Which of the Following Statements

question 69

Multiple Choice

In determining the standard deduction, which of the following statements is true?

• A) The standard deduction is a function of filing status.
• B) An individual who is both blind and age 65 by the last day of the taxable year is entitled to one additional standard deduction amount.
• C) An individual who is considered a dependent of another person for tax purposes is not allowed a standard deduction.
• D) The standard deduction for a head of household is twice the standard deduction for a single individual.

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Definitions:

Allowance for Doubtful Accounts

A contra asset account used to estimate the portion of a company's receivables that may not be collectible.

Bad Debts Expense

This is an expense reported on the income statement, reflecting the cost of credit sales that a company does not expect to collect.

Lesbians

Women who are emotionally, romantically, or sexually attracted to other women.

Gay Men

Male individuals who are emotionally, romantically, or sexually attracted to other males.