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On December 31,2016,a taxpayer received the notification that he was legally divorced.However,he lived with his spouse for 8 months during 2016.He has no dependent children.What status should he select when filing his tax return for 2016?
Total Revenue
The total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.
Profit
The financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Economic Profits
Profits exceeding the total cost of capital, including both the cost of debt and the opportunity cost of equity capital.
Explicit Costs
Expenses directly incurred in the course of running a business, such as wages and materials.
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