Amanda Has Two Dependent Children,ages 10 and 12

question 145

Multiple Choice

Amanda has two dependent children,ages 10 and 12.She earned $15,000 from her waitress job.How much of her child credit is refundable?

• A)$1,200
• B)$1,500
• C)$1,800
• D)$2,000

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Definitions:

Unrealized Holding Loss

A decrease in the value of an investment that has not yet been sold for cash.

Income Statement

A financial report that shows a company's revenues, expenses, and net income over a specific period.

Unrealized Loss

A reduction in value experienced by retaining an asset whose price has fallen, but has not been liquidated yet.

Net Income

The total earnings of a company after subtracting all expenses and taxes from total revenue.