Cassy Reports a Gross Tax Liability of $1,000

question 138

Multiple Choice

Cassy reports a gross tax liability of $1,000. She also claims $400 of nonrefundablepersonal credits, $700 of refundable personal credits, and $200 of business credits. What is Cassy's tax refund or tax liability due after applying the credits?

• A) $300 refund.
• B) $0 refund or taxes payable.
• C) $700 refund.
• D) $1,000 taxes payable.

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Definitions:

Conscious Information Processing

The deliberate and aware thinking, analysis, and judgement of information.

Unconscious Information Processing

Refers to the mental processes not in immediate conscious awareness that influence judgments, feelings, or behaviors.

Circadian Rhythm

Biological processes that display an endogenous, entrainable oscillation of about 24 hours, primarily influenced by light and darkness in an organism's environment.

Biological Functioning

The processes and activities carried out by living organisms to maintain life, including growth, metabolism, reproduction, and response to stimuli.