Stephanie and Mitch Are Married and They File a Joint

question 35

Multiple Choice

Stephanie and Mitch are married and they file a joint tax return. Mitch received a slightly higher salary than Stephanie did during the year.They both make very high salaries. Which of the following statements is true?

• A)Stephanie and Mitch likely pay no tax marriage penalty nor receive a tax marriage benefit.
• B)Stephanie and Mitch likely pay a tax marriage penalty.
• C)Stephanie and Mitch likely receive a tax marriage benefit.
• D)Stephanie and Mitch likely will pay a tax marriage penalty and receive a tax marriage benefit.

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Definitions:

Actual Costs

The real costs incurred as opposed to budgeted or forecasted amounts.

Significant Differences

Notable disparities or variations between compared entities or items, often requiring attention or adjustment in analysis or evaluation.

Price Variance

The difference between the actual price paid for a good or service and its expected or budgeted price.

Quantity

The amount or number of a material or product.