Since an Abandoned Spouse Is Treated as Not Married and Has

question 76

True/False

Since an abandoned spouse is treated as not married and has one or more dependent children, he or she qualifies for the standard deduction available to head of household.

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Definitions:

Adjusting Journal Entry

A record made in the books to correct or update financial statements prior to issuing them, ensuring they reflect true values.

Fees Earned

Revenue generated from providing services, as opposed to selling goods, in a given period.

Prepaid Expense

An expense that has been paid in advance and will be recognized as an expense in a future accounting period.

Normal Balance

The side of an account, either debit or credit, where increases in the account are recorded.