On June 1,2019,Ellen Turned 65

question 80

Multiple Choice

On June 1,2019,Ellen turned 65.Ellen has been a widow for five years and has no dependents.Her standard deduction is

• A)$25,700.
• B)$24,400.
• C)$13,850.
• D)$12,200.

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Definitions:

Adjusted Trial Balance

A listing of all company accounts that will appear in the financial statements after adjusting entries have been made, verifying the equality of debits and credits.

Error Detection

The process of identifying inaccuracies, inconsistencies, or mistakes in financial information or accounting records.

Income Statements

Financial statements detailing a company's revenues, expenses, and profits over a specific period, highlighting operational performance.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made, serving as a check that the total debits equal the total credits before financial statements are prepared.