All of the Following Are Included in M1 EXCEPT

question 376

Multiple Choice

All of the following are included in M1 EXCEPT

• A) coin and currency.
• B) money market mutual fund shares.
• C) traveler's checks.
• D) checking account balances.

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Definitions:

AGI

Adjusted Gross Income (AGI) is an individual's total gross income minus specific deductions, used in calculating taxable income.

Adoption Credit

A tax credit that offsets qualified adoption expenses, making adoption financially more accessible for families.

Qualified Expenses

Expenditures that may be eligible for tax deductions or credits, often related to education, healthcare, or investments.

Child and Dependent Care Credit

A tax credit offered to taxpayers to offset some of the costs of care for a qualifying dependent or child, to allow the taxpayer to work or look for work.