For Purposes of the Dependency Exemption Qualification,the Test for Qualifying

question 50

True/False

For purposes of the dependency exemption qualification,the test for qualifying children includes an age restriction but the test for qualifying relative does not.

---

Definitions:

Variance

A measure of dispersion that shows how much the values in a set differ from the mean or expected value.

Expected Utility Maximizer

A theoretical concept in economics and decision theory where an individual chooses among risky options by selecting the option with the highest expected utility.

Event

An occurrence or happening, often of significance and usually a distinct piece of time.

Certainty Equivalent

The guaranteed amount of money that an individual would view as equally desirable to a risky gamble.