Sean and Jenny Are Married,file a Joint Return and Have

question 28

Multiple Choice

Sean and Jenny are married,file a joint return and have two dependent children,Blake,age 9 and Jake,age 5.Sean has earned income of $72,000.Jenny was a full-time student (for nine months) with no income.They paid a qualified day care center $7,000.What amount of child and dependent care credit can Sean and Jenny receive?

• A)$600.
• B)$900.
• C)$1,000.
• D)$1,200.

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Definitions:

Resolution to Pay

A formal decision made by a company's board of directors to distribute funds, often as dividends, to shareholders.

Dividend Payment

A payout of part of a firm's profits, determined by its board of directors, and given to its stockholders.

Ex-Dividend Date

Date two business days before the date of record, establishing those individuals entitled to a dividend.

Market Value

The current quoted price at which an asset or a company can be bought or sold on the open market.