Parents Must Provide More Than Half the Support of Their

question 14

True/False

Parents must provide more than half the support of their child under the age of 19 in order for the child to be considered as a dependent qualifying child.

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Definitions:

Direct Labor

The labor cost directly associated with the production of goods, including wages for workers who physically convert materials into the finished product.

Raw Materials

The basic materials from which products are made, typically not yet processed or used in manufacturing.

Finished Products

Goods that have completed the manufacturing process but have not yet been sold or distributed to end customers.

Labor Costs

The total expenditure incurred by employers to compensate employees, including wages, salaries, benefits, and taxes.