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Mr.and Mrs.Kay,ages 68 and 66,file a joint return.Mrs.Kay is legally blind.Compute their standard deduction.
Personal Cash
Refers to the liquid assets that an individual holds for the purpose of immediate or near-term spending or investment.
Accounts Receivable
Receivables from customers against goods or services supplied by a business, pending payment.
Capital Statement
A financial statement that illustrates changes in a company's equity over a certain period, including investments, withdrawals, and net income or loss.
Net Income
The total earnings of a company after deducting all expenses and taxes, indicating the company's profitability over a specific period.
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