Match the Statements That Relate to Each Other

question 22

Multiple Choice

Match the statements that relate to each other.Note: Some choices may be used more than once.
-Age of a qualifying child

• A)Not available to 65-year old taxpayer who itemizes.
• B)Exception for U.S.citizenship or residency test (for dependency exemption purposes).
• C)Largest basic standard deduction available to a dependent who has no earned income in 2019.
• D)Considered for dependency purposes.
• E)Qualifies for head of household filing status.
• F)A child (age 15) who is a dependent and has only earned income.
• G)Considered in applying gross income test (for dependency exemption purposes).
• H)Not considered in applying the gross income test (for dependency exemption purposes).
• I)Unmarried taxpayer who can use the same tax rates as married persons filing jointly.
• J)Exception to the support test (for dependency exemption purposes).
• K)A child (age 16) who is a dependent and has only unearned income of $4,500.
• L)No correct match provided.

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Definitions:

Insurance Application

A formal request or proposal to an insurance company for coverage, detailing personal or organizational information relevant for underwriting.

Risk Management

The process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events.

Insurance Company

An entity that provides financial compensation to individuals or entities against losses from specified risks in exchange for premiums.

Risk Distribution

The practice of spreading financial risk across various parties, investments, or financial instruments to reduce the impact of any one failure.