Which of the Following Is Not True of the American

question 78

Multiple Choice

Which of the following is not true of the American opportunity credit?

• A)A taxpayer with multiple eligible dependents can claim a credit for each dependent's qualifying expenses
• B)The credit is available for students during their first four years of postsecondary education only
• C)It is phased out based on the taxpayer's AGI
• D)A taxpayer may not claim a credit unless the taxpayer pays a dependent's qualifying educational expenses

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Definitions:

Banks

Banks, which are authorized to accept deposits, grant loans, and deliver a range of financial services to both individual and corporate clients.

Telephone Directories

Published listings of telephone subscribers in a particular geographic area or subscribers to services provided by the organization that publishes the directory.

State and County Tax Rolls

Public records listing property within a given jurisdiction for the purpose of determining tax liabilities based on property values.

Market Equilibrium

The condition in a market where the quantity supplied is equal to the quantity demanded at a certain price level.