Ariel Has Two Children,Christopher and Pat

question 89

Multiple Choice

Ariel has two children,Christopher and Pat.Christopher is 25 years old and Pat is 22.Both are full time students at Southern College,have full tuition scholarships,and live at school during the year.Christopher graduated in June.Which test will prevent Ariel from claiming both Pat and Christopher as dependents?

• A)Age test.
• B)Gross income test.
• C)Principal residence test.
• D)Non-support test.
• E)Full time student test.

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Definitions:

Acquisition of Subsidiary

The process of obtaining control of another company, which then becomes a subsidiary, often involving the purchase of its shares.

Income Taxes Paid

The total amount of money a company pays in taxes to various tax authorities based on its taxable income.

Investing Activities

Activities concerning the acquisition and disposal of long-term assets and other investments not included in cash equivalents.

Non-Current Assets

Long-term assets that are not expected to be converted into cash within one year of the balance sheet date, including property, plant, equipment, and intangible assets.