Identify Which of the Following Statements Is True

question 16

Multiple Choice

Identify which of the following statements is true.

• A)If a taxpayer fails to file a return, the statute of limitations is extended to 10 years.
• B)If a couple files a joint return but only one spouse had income, only the spouse with income is responsible for paying any tax due.
• C)Joint and several liability means that each spouse is potentially liable for the full amount of tax due.
• D)All of the above are false.

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Definitions:

Craftmatic Adjustable Beds

A brand of electrically adjustable beds that allow users to change the sleeping position based on comfort preferences or medical needs.

Per Capita Income

The average income earned per person in a given area.

Advertising Budget

The amount of money a business is willing to spend on its advertising efforts over a certain period.

Equilibrium

The state in which market supply and demand balance each other, resulting in stable prices.