Which of the Following Statements About a Qualifying Person for Head

question 97

Multiple Choice

Which of the following statements about a qualifying person for head of household filing status is true?

• A)One individual (who is a qualifying person)may qualify more than one taxpayer for head of household filing status.
• B)The taxpayer is required to live with a qualifying person for the entire year in order to qualify for head of household filing status.
• C)A taxpayer's parent cannot be a qualifying person for purposes of determining head of household filing status.
• D)A qualifying person must have a family relationship with the taxpayer in order for the qualifying person to qualify the taxpayer for head of household filing status.

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Definitions:

F.O.B Shipping Point

F.O.B Shipping Point (Free on Board Shipping Point) is a shipping term indicating that the buyer assumes ownership and risk of the goods being shipped as soon as they leave the seller's premises.

Perpetual Inventory Method

An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

General Journal Entry

A general journal entry is a record in the general journal that is used to document business transactions according to the double-entry bookkeeping system.

Perpetual Inventory Method

The perpetual inventory method continuously updates inventory records and cost of goods sold every time a transaction occurs.