Emma,a Single Taxpayer,obtains Permission to Change from a Calendar Year

question 47

Multiple Choice

Emma,a single taxpayer,obtains permission to change from a calendar year to a fiscal year ending June 30,2015.During the six months ending June 30,2015,she earns $40,000 and has $8,000 of itemized deductions.What is the amount of her annualized income?

• A)$30,000
• B)$64,000
• C)$60,000
• D)$64,300

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Definitions:

Frontal Lobes

Regions of the brain located at the front of each cerebral hemisphere, responsible for executive functions like decision making, problem-solving, and controlling behavior.

Limbic System

A complex system of nerves and networks in the brain, involving several areas near the edge of the cortex concerned with instinct and mood. It controls the basic emotions and drives.

Emotion Regulation

The process of influencing which emotions one has, when they have them, and how they experience and express these emotions.

Formal Operational

The last phase of Piaget's cognitive development theory, marked by the capacity for abstract, logical, and systematic thought.