Which of the Following Statements Regarding Exemptions Is Correct

question 65

Multiple Choice

Which of the following statements regarding exemptions is correct?

• A)Personal exemptions are more valuable than dependency exemptions.
• B)Taxpayers filing a married filing joint return are limited to two exemptions on their tax returns.
• C)Exemption amounts are considered to be for AGI deductions.
• D)Taxpayers subtract exemption deductions from adjusted gross income in determining taxable income.Exemptions are considered to be from AGI deductions.

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Definitions:

Preemptive Power

The authority to act before others to prevent an undesirable outcome, often used in legal or military contexts to describe preemptive measures or actions.

Necessary

Something essential or required for a particular purpose or outcome, often in the context of achieving goals or fulfilling conditions.

Proper Clause

The clause in the U.S. Constitution granting Congress the power to make all laws which shall be necessary and proper for carrying into execution its powers.

Elastic Clause

The provision in the U.S. Constitution that grants Congress the power to pass all laws necessary and proper for carrying out its enumerated powers, also known as the Necessary and Proper Clause.