If a Taxpayer Does Not Provide More Than Half the Support

question 12

True/False

If a taxpayer does not provide more than half the support of a child, that child cannot qualify as the taxpayer's qualifying child.

---

Definitions:

Collection Of Receivable

The process of managing and collecting payments owed to a company by its customers for products or services provided on credit.

Accounts Payable Period

The average number of days it takes for a business to pay its suppliers.

Receipt Of Inventory

The process of receiving goods or materials into stock, typically recorded at the time of delivery, impacting both inventory levels and accounts payable.

Payment For It

This term refers to the act of disbursing money in exchange for goods or services.