Shawn and Dahlia Are Married; Both Work and Have One

question 125

Multiple Choice

Shawn and Dahlia are married; both work and have one qualifying child.They had AGI of $19,000.What is their Earned Income Credit?

• A)$3,036.
• B)$6,460.
• C)$0.
• D)$3,373.

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Definitions:

Spending Variance

A financial metric indicating the difference between the budgeted or planned amount of expenses and the actual amount spent.

Net Operating Income

A company's profit after subtracting its operating expenses, excluding taxes and interest.

Revenue And Spending Variances

The differences between actual and budgeted amounts for revenue and expenditures, which are analyzed to manage financial performance.

Flexible Budget

A budget designed to respond and adapt to changes in the level of operations or volume.