Lisa Was Married with Two Dependent Children in 2004

question 21

Multiple Choice

Lisa was married with two dependent children in 2004. Her husband died in April and she did not remarry before the end of 2004. Which filing status should Lisa use for her tax return in 2004?

• A)Single
• B)Married Filing Jointly
• C)Head of Household
• D)Qualifying Widow(er) With Dependent Child

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Definitions:

Mexican Pesos

The currency of Mexico, abbreviated as MXN, used for all financial transactions within the country.

Spot Exchange Rate

The current price at which one currency can be exchanged for another currency in the foreign exchange market.

Forward Exchange Rate

The rate at which two currencies will be exchanged at a specified future date, agreed upon today.

Strong U.S. Dollar

Strong U.S. Dollar refers to a situation where the value of the U.S. dollar is high relative to other currencies, impacting international trade and economic conditions.