Benjamin, Age 16, Is Claimed as a Dependent by His

question 91

True/False

Benjamin, age 16, is claimed as a dependent by his parents.During 2019, he earned $850 at a car wash.Benjamin's standard deduction is $1,450 ($1,100 + $350).

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Definitions:

Factory Rent

Factory rent is the cost associated with leasing or renting a manufacturing facility, which is typically categorized as a fixed expense for the business.

Wages

Payments made to employees, typically on an hourly, daily, or weekly basis, for the labor or services they provide.

Electrical Cord

A flexible cable composed of insulated wires used for delivering electricity from a power source to an electrical device.

Lamp Shade

A cover used to diffuse or direct the light emitted from a lamp.