Which of the Following Would Disqualify a Taxpayer from Filing

question 127

Multiple Choice

Which of the following would disqualify a taxpayer from filing a Form 1040EZ?

• A)The taxpayer has total income of $74,000.
• B)The taxpayer has interest income of $500.
• C)The taxpayer is age 63.
• D)The taxpayer has one dependent.

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Definitions:

Book of Original Entry

A preliminary accounting record where transactions are first recorded; also known as a journal.

Chart of Accounts

An organized list of all the accounts used in a company's general ledger, categorized into assets, liabilities, equity, revenues, and expenses.

Ledger

A comprehensive collection of accounts where financial transactions are recorded, categorized, and summarized; an essential part of the accounting system.

Accounting Information System

A system used by businesses to collect, store, manage, process, retrieve, and report financial data for the purpose of informed decision-making.