Match Each Term with the Correct Statement Below

Match each term with the correct statement below.
-Direct reduction in the income tax liability often created by Congress to further a public purpose.

A) Ad valorem tax
B) Deduction
C) Excise tax
D) Exclusion
E) Expense
F) Gain
G) Loss
H) Ordinary income
I) Pay-as-you-go concept
J) Personal property
K) Real property
L) Self-assessment
M) Standard deduction
N) Statute of limitations
O) Tax base
P) Tax credit