Which one of the following statements comparing tax credits and tax refunds is not correct?

	a.	Tax credits and tax deductions both reduce a taxpayer's tax liability.
	b.	Taxpayers in lower tax brackets benefit less from a tax deduction than taxpayers in higher tax brackets.
	c.	Financial reporting has concepts equivalent to both a tax deduction and a tax credit.
	d.	Tax deductions usually can be taken for the full amount of an expenditure; most tax credits are a percentage of a taxpayer's actual expenditure.