In October 2017,Joy and Paul Separated and Have Not Lived

question 129

Multiple Choice

In October 2017,Joy and Paul separated and have not lived with each other since,but they are still legally married.They do not file a joint return.Joy supports their children after the separation and pays the cost of maintaining their home.Joy's filing status in 2017 and 2018 is,respectively

• A)single for both years.
• B)head of household and single.
• C)married filing separately for both years.
• D)married filing separately and head of household.

Recognize and accurately record opening balances and opening adjusting entries in QuickBooks.

Understand the sales and purchasing cycles of a merchandising company and differentiate them from service companies.

Identify the type of business (service, merchandising, manufacturing) based on given characteristics.

Comprehend how sales tax is calculated and applied in QuickBooks.

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Definitions:

Loanable Funds Market

A theoretical market in which borrowers and lenders negotiate loans or savings, determining the interest rates through supply and demand for funds.

Unemployment

The situation of being jobless and actively looking for work but unable to find a job.

Classical Macroeconomic Model

An economic theory that emphasizes the importance of classical concepts like full employment, supply and demand, and the self-regulating nature of markets.

Full Employment

A state of the labor market where virtually all individuals who are willing and able to work at prevailing wage rates are employed.