If a Divorce Agreement Executed in the Current Year Specifies

question 103

True/False

If a divorce agreement executed in the current year specifies that a portion of the amount of an alimony payment is contingent upon the status of a child,that portion is considered to be a child support payment.

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Definitions:

Investment

Investment pertains to the allocation of resources, such as capital or time, with the expectation of generating an income or profit.

Services

Economic activities that provide intangible products, such as healthcare, education, and financial services, to consumers.

Durable Goods

Items or products that are expected to last for several years under normal use, such as appliances and vehicles.

Nondurable Goods

Items with a short life span which are consumed or used up quickly, such as food and most consumer packaged goods.