Severin,who Is 20 Years Old and a Full-Time Student,is Claimed

question 95

Multiple Choice

Severin,who is 20 years old and a full-time student,is claimed by his parent as a dependent.However,in 2014,he earned $5,400.What is the amount of the personal exemption that he can claim on his tax return?

• A) $3,950.
• B) $1,000.
• C) $0.
• D) $5,400.

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Definitions:

Industrial Economy

An economy characterized by the mass production of goods in factories, significant technological advancement, and the predominance of the manufacturing and service sectors.

Labor Unions

Organizations representing workers in various industries to negotiate wages, working conditions, and benefits on their behalf.

Social Equality

Social equality refers to a state of affairs in which all individuals within a society have the same status in certain respects, including civil rights, freedom of speech, property rights, and equal access to social goods and services.

Northern State

In the context of the American Civil War, a Northern state refers to any of the states that were part of the Union, opposing the seceding Confederate Southern states.