To Be Claimed as a Dependent,a Person Must Be a Qualifying

question 78

True/False

To be claimed as a dependent,a person must be a qualifying child or a qualifying relative.

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Definitions:

Cash Inflows

The total amount of money being transferred into a business, typically from operations, investments, and financing activities.

Cash Outflows

Payments or expenditures made by a business, resulting in a decrease in cash holdings.

Financing Activities

Transactions that involve raising capital, repaying investors, and altering the capital structure of the organization among other financing-related decisions.

Issuing Debt

The act of a corporation or governmental entity raising money by selling bonds or notes to investors.