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:

Amortize

To amortize means to gradually reduce or write off the cost or value of an asset or a debt over a period.

Fair Value

The estimated market value of an asset or liability, reflecting the amount for which it could be exchanged in an orderly transaction between market participants.

Net Assets

Net Assets represent the total assets of a company minus its total liabilities, showing the company's financial health and equity value.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset over its history, reducing its book value.