MrAnd MrsAnderson File a Joint Return

question 104

Multiple Choice

Mr.and Mrs.Anderson file a joint return.They provide more than 50% of the financial support of their two children,Dana,age 26,and John,age 17.Both children live in the Andersons' home.Dana earned $7,100 from a part-time job,while John earned no income this year.Which of the following statements is true?

• A)Both Dana and John are qualifying children of the Andersons.
• B)Dana is a qualifying relative and John is a qualifying child of the Andersons.
• C)John is a qualifying child of the Andersons.
• D)Neither Dana nor John is a qualifying child of the Andersons.

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Definitions:

Interdependent

A situation where the outcomes or decisions of two or more entities are dependent on each other.

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition.

Differentiated Products

Goods or services that are distinguished from each other by characteristics like quality, design, branding, etc., making them not perfectly substitutable.

Interdependence

A situation in which the production processes or outcomes of different firms, sectors, or countries are dependent on each other.