A standard amount which taxpayers can claim for themselves and dependents is called a(n)
A)allowance.
B)deduction.
C)exemption.
D)exclusion.

Question

Quizplus · Accepted Answer

An exemption is a standard amount which taxpayers can claim for themselves and their dependents. Deductions are expenses that can be subtracted from a taxpayer's income to lower their taxable income. Allowances and exclusions do not apply in this context.

A Standard Amount Which Taxpayers Can Claim for Themselves and Dependents