Match the Statements That Relate to Each Other

question 97

Multiple Choice

Match the statements that relate to each other.Note: Some choices may be used more than once.
-Multiple support agreement

• A)Not available to 65-year old taxpayer who itemizes.
• B)Exception for U.S.citizenship or residency test (for dependency exemption purposes).
• C)Largest basic standard deduction available to a dependent who has no earned income in 2019.
• D)Considered for dependency purposes.
• E)Qualifies for head of household filing status.
• F)A child (age 15) who is a dependent and has only earned income.
• G)Considered in applying gross income test (for dependency exemption purposes).
• H)Not considered in applying the gross income test (for dependency exemption purposes).
• I)Unmarried taxpayer who can use the same tax rates as married persons filing jointly.
• J)Exception to the support test (for dependency exemption purposes).
• K)A child (age 16) who is a dependent and has only unearned income of $4,500.
• L)No correct match provided.

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Definitions:

Consistency

The accounting principle that requires companies to apply the same accounting methods and procedures from period to period unless a change is clearly justified.

Accounting Methods

The rules and procedures that companies follow in reporting their financial information, encompassing revenue recognition, expense reporting, and inventory management.

Similar Events

Incidents or occurrences that share common characteristics or outcomes, often analyzed in financial contexts to predict future trends.

Public Company Accounting Oversight Board

An independent oversight body established by Congress to oversee the audits of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports.