Which of the Following Statements About a Qualifying Person for Head

question 49

Multiple Choice

Which of the following statements about a qualifying person for head of household filing status is true?

• A) A taxpayer's parent cannot be a qualifying person for purposes of determining head of household filing status.
• B) The taxpayer is required to live with a qualifying person for the entire year in order to qualify for head of household filing status.
• C) A qualifying person must have a family relationship with the taxpayer in order for the qualifying person to qualify the taxpayer for head of household filing status.
• D) One individual (who is a qualifying person) may qualify more than one taxpayer for head of household filing status.

---

Definitions:

Past Transactions

Previously completed financial activities or operations that a company has engaged in.

Historical Cost Principle

An accounting principle that states all assets should be recorded at their original purchase cost rather than their current market value.

Market Value

The current price at which an asset or service can be bought or sold in the marketplace, often subject to fluctuations based on supply and demand.

National Monetary Unit

The official currency of a country, used as a medium of exchange and standard of value.