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Use the table for the question(s) below.
Consider the following balance sheet:
-Luther Corporation's cash ratio for 2019 is closest to:
Nonrefundable Tax Credit
A tax credit that can reduce the amount of tax owed to zero, but cannot result in a tax refund.
Tax Credit
A tax benefit that directly reduces the amount of tax owed dollar for dollar.
Child and Dependent Care Expenses
Expenses related to the care of children or other dependents that can be deducted from taxable income.
AGI
This represents the total income a person has, including wages, salaries, and other sources, minus adjustments, used as a basis for calculating tax owed.
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