Which of the Following Is Not True About Exemptions

question 39

Multiple Choice

Which of the following is not true about exemptions?

• A)An exemption includes a deduction for qualified dependents.
• B)Exemptions increase your taxable income.
• C)An exemption includes a deduction for yourself.
• D)An exemption includes a deduction for your spouse
• E)Each exemption is worth $4,050 in 2016.

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Definitions:

Alternatives

Different options or choices available in a given situation.

Ethical Recommendations

Suggestions or advice based on moral principles, aimed at guiding behavior or decision-making in a responsible manner.

Inherent Risks

The potential for loss or negative outcomes that are naturally part of a process, activity, or decision.

Matrix Approach

A management strategy that organizes projects or tasks in a grid-like structure to facilitate decision-making and resource allocation.