Ms Nelson Is a Single Mom with Three Children; Dana

question 48

Multiple Choice

Ms. Nelson is a single mom with three children; Dana is 18 and a high school senior, Derrick is 20 and a college sophomore, and Tonya is 25 and unemployed. All three children live at home. How many exemptions can Ms. Nelson claim on her tax return?

• A) 1
• B) 2
• C) 3
• D) 4
• E) 0

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Definitions:

Fraud

An intentional deception made for personal gain or to damage another individual.

Sale-Or-Return Contract

A contract in which the buyer and seller agree that the buyer may return the goods at a later time.

Voidable Title

Title that occurs when a contract between the original parties would be void but the goods have already been sold to a third party.

Common Law

A legal system based on judicial decisions and customs, rather than on written statutes or codes.