What Is the Total Amount of Personal Exemptions a Taxpayer

question 120

Multiple Choice

What is the total amount of personal exemptions a taxpayer and spouse can claim for 2016?

• A)$4,050.
• B)$8,100.
• C)$12,600.
• D)$9,300.

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Definitions:

Subsidiary

A company controlled by another company, often referred to as the parent company.

Acquisition

The process or act of obtaining control, possession, or ownership of a company or assets by purchasing or merging with it.

Consolidation

A combination of two or more businesses in which all of the old legal entities dissolve and a new one with a new name is formed to continue into the future.

Vertical Merger

A vertical merger occurs between two companies that operate at different levels within an industry's supply chain, typically aimed at increasing efficiencies or reducing costs.