Match the Statements That Relate to Each Other

question 11

Multiple Choice

Match the statements that relate to each other.Note: Some choices may be used more than once.
-Additional standard deduction

• 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.

---

Definitions:

Lessor's Implicit Rate

The interest rate a lessor effectively charges a lessee in a lease agreement, often used to calculate the present value of minimum lease payments.

Incremental Borrowing Rate

The interest rate a company would have to pay if it borrows funds to finance a lease or purchase of an asset.

Discount

A reduction from the usual cost of something, often applied to incentivize purchase.

Minimum Lease Payments

The least amount over the leasing term that the lessee is obligated to pay, and which may include a residual value guarantee, taxes, fees, and interest expense.