In October 2013,Joy and Paul Separated and Have Not Lived

question 132

Multiple Choice

In October 2013,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 2013 and 2014 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.

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Definitions:

Notes Payable

Written promises to pay a specified sum of money, typically to a lender, by a certain date.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Normal Balance

The usual balance side (debit or credit) of an account, determined by the type of account, which helps in maintaining the double-entry accounting system.

Temporary/Permanent

Refers to the nature of differences affecting financial reporting; temporary differences resolve over time, whereas permanent differences do not.