There Are Two Types of Education Credits Available, American Opportunity

question 54

True/False

There are two types of education credits available, American opportunity tax credit and lifetime learning credit.

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Definitions:

Net Income

The total profit of a company after all expenses, including taxes, interest, and operating costs, have been deducted from total revenue.

Dividends

Payments made by a corporation to its shareholders, typically from profits, as a distribution of earnings.

Equity Method

An accounting technique used to record investments in other companies, recognizing income proportional to the ownership percentage.

Net Income

A company's ultimate earnings after all taxes, costs, and expenses are subtracted from the gross income.