One Reason taxpayers like owning a home for tax purposes is because of the fact they can claim a deduction for home mortgage interest paid as an adjustment to the income in arriving at Adjusted gross income. (True or False) Consumers with a very high utilization ratio (50%-75%) on their credit cards are more likely to be approved for a loan than consumers with a low utilization ratio (10-20%). (True or False?) When preparing your income and Expense statunent (or Income statement) in Order to determine you net incon or loss for the month, you must subtract you debts from your assets first. (True or false)