In meeting the criteria of a qualifying child for dependency purposes, when if ever, might the child's income become relevant?
What will be an ideal response?
The amount of income earned by the qualifying child normally is of no consequence. If, however, such income is used to make the child self-supporting, then he or she can no longer be a qualifying child. Such child also would not be a qualifying relative due to the gross income and support tests.
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Indicate whether the statement is true or false
How would the quick ratio be affected by a prepayment of $30,000 for fire and liability insurance?
a. The quick ratio would decrease. b. The quick ratio would increase. c. The quick ratio would not change. d. The effect cannot be determined from the information given.
Systems analysis is the final phase in the creation or revision of an accounting system
Indicate whether the statement is true or false
_____________________ is a measure of the percentage of workers who are union members.
Fill in the blank(s) with the appropriate word(s).