Vivian Is a College Sophomore

question 4

Multiple Choice

Vivian is a college sophomore.She takes four courses at her college, which qualifies her for full-time status at the college.She also works 20 hours a week as a cashier at the Student Union.How is she classified in terms of the labor force?

• A)She is NILF because she is a full-time student.
• B)She is in the labor force, but she is not counted as employed because she is a part-time worker.
• C)She is in the labor force and she is employed.
• D)Her classification depends upon whether she is younger than 18 years or older than 18 years.
• E)Her classification depends upon whether she wants to work full-time or not.

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Definitions:

Income Tax Rate

The proportion of income that is subject to taxation for a person or a company.

Consolidated Income Tax Return

A single income tax return filed for a group of related corporations, consolidating their tax liabilities.

Ownership

The state or fact of legal possession and control over property, which includes the rights to use, sell, or lease it.

Deferred Income Tax Asset

A tax asset that reflects a company's ability to reduce future tax liability due to deductible temporary differences.