Can Albert,who Is a Full-Time Student and Earns $1,575 Working

question 46

Essay

Can Albert,who is a full-time student and earns $1,575 working as a clerk,claim an exemption for himself on his tax return? Assume his parents are claiming him as a dependent.

---

Definitions:

Private Equity Capital

Capital funds invested by a private equity firm in an existing corporation, usually to purchase and reorganize it.

Initial Public Offering

The first sale of a company's stock to the public, marking the transition from a private to a publicly traded company.

Corporate Bonds

Debt securities issued by corporations to raise capital, where the issuer promises to repay the principal amount at a specified maturity date along with periodic interest payments.

Preferred Shares

A class of stock in a corporation that typically offers dividends and other privileges above common shares, usually without voting rights.