Which of the Following Statements Regarding a Qualifying Child Is

question 97

Multiple Choice

Which of the following statements regarding a qualifying child is false?

• A) The child must have been alive at least 180 days during the tax year.
• B) The child must be a U.S. citizen or resident of the United States, Canada, or Mexico.
• C) The child must not have provided more than 50% of his or her own financial support during the year.
• D) The child must not have filed a joint return with a spouse unless the return was filed only as a refund claim.

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Definitions:

Subsidiary Ledger

A ledger containing the details to support a summary line item in the General Ledger, such as accounts receivable or accounts payable.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business and is used to prepare financial statements.

One Column Purchases Journal

A simplified accounting journal used for recording the total monetary amount of purchases by a business.

Merchandise On Account

Purchasing goods from suppliers on credit, intending to pay at a later date, reflected in accounts payable.