Qualification Under the 900-Hour Working Test for the Educator's Expense

question 90

Multiple Choice

Qualification under the 900-hour working test for the educator's expense deduction is measured by:

• A)The calendar year.
• B)3 consecutive months.
• C)5 consecutive months.
• D)The academic year.

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Definitions:

Liabilities

Financial obligations or debts that a company or individual owes to others, which must be settled over time.

Creditors

Entities or individuals to whom money is owed.

Assets

Resources or items of value that an individual or organization owns or controls with the expectation that it will provide future benefit.

Resources Owned

Assets or possessions that are held by an individual, an organization, or a country.