Michael,Diane,Karen,and Kenny Provide Support for Their Mother Janet Who Is

question 84

Multiple Choice

Michael,Diane,Karen,and Kenny provide support for their mother Janet who is 75 years old.Janet lives by herself in an apartment in Los Angeles.Janet's gross income for the year is $3,000.Janet provides 10% of her own support,Michael provides 40% of Janet's support,Diane provides 8% of Janet's support,Karen provides 10% of Janet's support,and Kenny provides the remaining 32% of Janet's support.Under a multiple support agreement,who may claim a dependency exemption for Janet as a qualifying relative?

• A) Michael, Diane, Karen, and Kenny.
• B) Michael, Karen, and Kenny.
• C) Michael and Kenny.
• D) Michael.

---

Definitions:

Earnings Per Share

A financial metric that measures the portion of a company's profit allocated to each outstanding share of common stock.

Price Earnings Ratios

A valuation metric for stocks, calculated by dividing the current market price of a stock by its earnings per share (EPS).

Growth Models

Economic theories that explain how economic growth occurs in the long-term by focusing on factors like savings, investment, and technological innovation.

Technical Analyst

A professional who evaluates securities by analyzing statistics generated by market activity, such as past prices and volume.