Jay and Cara's daughter is starting her freshman year of college. Jay and Cara will be able to claim the American Opportunity Tax Credit for a percentage of the cost of tuition, required fees and course materials, but the room and board charges will not qualify for the credit.
Answer the following statement true (T) or false (F)
True
Only tuition, required fees and course materials qualify for the American Opportunity Tax Credit.
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When recording respondents' answers, interviewers should include all probes and comments
Indicate whether the statement is true or false
A ________ contract exists when the purpose of the promisee in requiring a promisor's performance to be made to a third person is to fulfill a legal obligation of the promisee to the third person
A) void B) quasi- C) creditor beneficiary D) donee beneficiary
Jackson Medical Supply experienced the following events during June. The company uses the perpetual inventory system.1) Issued common stock for cash.2) Purchased inventory on account, terms 2/10, n/30, FOB shipping point.3) Paid the freight charges on the purchase in event #2.4) Sold merchandise to a customer on account, terms 2/10, n/30, FOB destination. (a) Recognized cash revenue from sale of merchandise.(b) Recognize cost of goods sold.5) Paid the freight charges on goods sold in event #4.6) Customer returned some of the merchandise sold in event #4. (a) Recognized the sales return.(b) Recognize the cost of the goods as a return to the inventory account.7) Recorded discount granted to the customer in event #4.8) Recorded payment received from the customer in event #4.9) Recorded
discount received on purchase in event #2.10) Recorded payment of amount due on purchase in event #2.Required: Complete the financial statements model shown below. Identify each event as asset source (AS), asset use (AU), asset exchange (AX), or claims exchange (CX). Also explain how each event affects the financial statements by placing a "+" for increase, "?" for decrease, "+?" for increase and decrease, or "NA" for not Also, indicate in the cash column if the event would be recorded as an operating activity (OA), an investing activity (IA) or a financing activity (FA). The first event is recorded as an example.
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A random sample of 95 students at a local university showed that they work an average of 48 hours per month with a standard deviation of 12 hours. Compute a 95% confidence interval for the mean of the population.
What will be an ideal response?