Match Each Statement with the Correct Term Below

question 23

Multiple Choice

Match each statement with the correct term below.
-Personal interest

• A)Prepaid interest.
• B)Either a qualifying child or a qualifying relative
• C)One test for a qualifying relative.
• D)The minimum amount a taxpayer can deduct for personal expenditures.
• E)A deduction in this category is always allowed. That is, there is no minimum allowable amount and generally no income limitation placed on these deductions.
• F)Generally, these deductions are for specifically allowed personal expenditures.
• G)An exception to this test is a custodial parent.
• H)Interest paid on debt used to buy securities.
• I)Interest paid on credit cards, personal loans, car loans, etc.
• J)Interest paid on a mortgage secured by the taxpayer's residence. The proceeds of the loan are used to pay off a credit card, the interest is not deductible.
• k.A tax designed to prevent the shifting of unearned income to children of the taxpayer.

---

Definitions:

Endocytosis

A cellular process to bring large molecules of material into the cytoplasm of the cell.

DNA

A molecule known as deoxyribonucleic acid carries essential genetic directives necessary for the growth, development, functioning, and reproduction of all identified living beings and a wide variety of viruses.

Chromosome

A structure of nucleic acids and protein found in the nucleus of most living cells, carrying genetic information in the form of genes.

Genes

Units of heredity made up of DNA that carry information for the development, functioning, growth, and reproduction of organisms.