In Computing AMTI,tax Preference Items Are

question 55

Multiple Choice

In computing AMTI,tax preference items are

• A)excluded.
• B)added only.
• C)subtracted only.
• D)either added or subtracted.

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Definitions:

Consumer Goods

Products and services that are consumed by individuals or households to satisfy their needs or wants.

Command Economy

An economy in which a central government either directly or indirectly sets output targets, incomes, and prices.

Labor

Labor describes the human exertion (whether physical or mental) that is applied to the production of goods and services.

Capital

Assets used for the production of goods and services, such as machinery, buildings, and equipment.