Which of the Following Statements Regardingdependents Is True

question 73

Multiple Choice

Which of the following statements regardingdependents is true?

• A)To qualify as a dependent of another, an individual must be a resident of the United States.
• B)To qualify as a dependent of another, an individual may not file a joint return with the individual's spouse under any circumstance.
• C)To qualify as a dependent of another, an individual must have a family relationship with the other person.
• D)To qualify as a dependent of another, an individual must be either a qualifying child or a qualifying relative of the other person.

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Definitions:

Variable Costs

Expenses that vary directly with the level of production or sales, such as materials and labor.

Break-even Sales

The amount of revenue required to cover total fixed and variable costs, resulting in zero profit or loss.

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance premiums, remaining constant regardless of variations in business activity.

Variable Costs

Expenses that change in proportion to the activity of a business, such as materials or labor directly tied to production volume.