Since ray AC bisects ∠A, it divides the angle into two equal parts. Given that m∠BAD is 46 degrees, we know that m∠BAC is also equal to m∠DAC.
Thus, we can find m∠BAC by dividing m∠BAD by 2:
\[ m∠BAC = \frac{m∠BAD}{2} = \frac{46°}{2} = 23°. \]
Therefore, the correct answer is: The m∠BAC is 23 degrees.