Rhianna and Jay Are Married Filing Jointly in 2016

question 4

Multiple Choice

Rhianna and Jay are married filing jointly in 2016. They have six children for whom they may claim the child tax credit. Their AGI was $123,440. What amount of child tax credit may they claim on their 2016 tax return?

• A) $5,300
• B) $6,000
• C) $12,000
• D) $4,000

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Definitions:

Competitor's Technology

The technological tools, innovations, or systems used by competing businesses within the same industry.

Produce

To create or manufacture goods or services for sale.

Units

Basic quantities or measurements, such as pieces, meters, kilograms, used to specify an amount of something.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and insurance premiums, remaining constant regardless of the level of production.