Which of the Following Would Result in a Reduction of Taxable

question 76

Multiple Choice

Which of the following would result in a reduction of taxable income?

• A)portfolio income
• B)tax credits
• C)union dues
• D)business income
• E)earned income

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Definitions:

Public Companies

Companies that issue publicly traded debt or equity securities.

Sarbanes-Oxley Act

U.S. legislation passed in 2002 aimed at protecting investors from fraudulent financial reporting by corporations.

Public Exchanges

Marketplaces where stocks, bonds, and other securities are traded among investors.

Cash Discounts

Reductions in the amount due by a customer if payment is made within a specified period, used as an incentive for quick payment.