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Which of the Following Formulas Correctly Represents Taxable Income Under

Question 6

Multiple Choice

Which of the following formulas correctly represents taxable income under the U.S. tax system?


A) Total wages + interest
B) Total personal income- exemptions -deductions
C) Total personal income + exemptions -deductions
D) Total personal income + dividends -deductions
E) Total wages -exemptions - deductions

Correct Answer:

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