________ Are Specific Expenses Instead of a Standard Amount That

question 52

Multiple Choice

________ are specific expenses instead of a standard amount that reduce adjusted gross income.

• A) Exemptions
• B) Household expenses
• C) Itemized deductions
• D) Tax credits

---

Definitions:

Products and Services List

A comprehensive categorization of the goods sold and services offered by a business, often used for inventory management and sales record.

3-Way Match

A process in accounting used to compare the purchase order, the receiving report, and the supplier's invoice before making a payment.

Internal Control

Measures and protocols established within an organization to safeguard its assets, enhance the reliability of its accounting records, and increase efficiency in operations.

Bundle

A group of products or services sold together, often at a reduced price compared to purchasing each item individually.