Which of the Following Are U

question 46

Multiple Choice

Which of the following are U.S.taxpayers allowed to adjust for inflation for the purpose of income taxes?

• A)both interest income and capital gains.
• B)interest income but not capital gains.
• C)capital gains but not interest income.
• D)neither interest income nor capital gains.

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Definitions:

Asset

An economic resource owned or controlled by an individual or corporation, expected to provide future benefit.

Basic Assumption

Basic Assumption is a foundational principle that underlies or is assumed to be the basis of reasoning, actions, decisions, or theories.

Dollar

The basic monetary unit used in the United States and some other countries.

Economic Activities

Actions that involve the production, distribution, and consumption of goods and services in an economy.