Which of the Following Statements Is/are Correct

question 135

Multiple Choice

Which of the following statements is/are correct?
I.There is a minimum allowable standard deduction from adjusted gross income of individuals.
II.Corporations are allowed deductions from adjusted gross income.
III.Corporations are allowed a standard deduction.
IV.Personal exemptions of individuals are deductible for adjusted gross income.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Statements II and IV are correct.
• D)Statements I and IV are correct.
• E)Statements I and III are correct.

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Definitions:

Plate Boundaries

The regions where two tectonic plates meet, which can be characterized as divergent, convergent, or transform boundaries based on their movement relative to each other.

Volcano

A geological formation on the Earth's surface where molten rock, ash, and gases erupt through an opening or vent.

Red Triangle

A nickname for a region in the Pacific Ocean off the coast of Northern California, noted for a high number of shark attacks.

Plate Boundaries

The edges where two or more of Earth's tectonic plates meet, which can be categorized into three main types: convergent, divergent, and transform.