Jane Is Unmarried and Has No Children, but Provides More

question 64

Multiple Choice

Jane is unmarried and has no children, but provides more than half of her mother's financial support. Jane's mother lives in an apartment across town and has a part-time job earning $5,000 a year. Which is the most advantageous filing status available to Jane?

• A)Single.
• B)Head of household.
• C)Qualifying individual.
• D)Surviving singlE.Jane's mother is not Jane's dependent because she fails the qualifying relative gross income test.Consequently, Jane may not file as a head of household.

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Definitions:

Subsidiary Ledger

A detailed ledger that contains specific accounts grouped under a primary account, facilitating more personalized and detailed tracking of financial transactions.

Cash Receipts

Money or cash equivalents received during a period of time including revenues from normal business operations and other activities.

Purchases On Account

The acquisition of goods or services with an agreement to pay for them at a later date, typically through the use of credit.

Accounts Receivable Subsidiary Ledger

A ledger containing detailed information on transactions related to individual customers to whom sales on credit have been made.