Currently, Hard Drive Capacity Is Measured in Gigabytes (GB) or Terabytes

question 117

True/False

Currently, hard drive capacity is measured in gigabytes (GB) or terabytes (TB).

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Definitions:

Personal Property

Tangible items and assets (excluding real estate) owned by an individual or business, such as vehicles, jewelry, and equipment.

Standard Deduction

A set amount deducted from taxable income that reduces the amount of income subject to tax, available to all taxpayers who do not itemize deductions.

AMT Purposes

Relates to calculations and exceptions specific to the Alternative Minimum Tax, aiming to prevent high-income taxpayers from avoiding substantial tax payments.

Personal Exemptions

A tax deduction allowed by the IRS for oneself and dependents, though it was eliminated for tax years 2018 through 2025 by the Tax Cuts and Jobs Act.