The taxpayer who qualifies for the Earned Income Credit is Option A. Allison (28) is filing as a single taxpayer with no dependents. Allison's earned income and adjusted gross income in 2021 was $24,900, all from wages. She had no other income. She is a U.S. citizen, lived in the United States for more than six months, and has a valid social security number that allows her to work. She did not have any foreign income and will not file Form 2555, Foreign Earned Income.
To qualify for the Earned Income Credit (EIC), certain requirements must be met. Allison meets these requirements based on the information provided.
Here's why Allison qualifies for the EIC:
1. Income Level: Allison's earned income and adjusted gross income in 2021 was $24,900, all from wages. The EIC has income limits, and Allison's income falls within the qualifying range.
2. Filing Status: Allison is filing as a single taxpayer with no dependents. The EIC is available for single taxpayers with no dependents, as well as married couples filing jointly or individuals with qualifying children.
3. U.S. Citizenship and Residency: Allison is a U.S. citizen and has lived in the United States for more than six months. The EIC is available to U.S. citizens or resident aliens who have lived in the United States for more than half of the tax year.
4. Valid Social Security Number: Allison has a valid social security number that allows her to work. A valid social security number is required to claim the EIC.
5. No Foreign Earned Income: Allison did not have any foreign income and will not file Form 2555 for Foreign Earned Income. The EIC is not available for individuals who have foreign-earned income.
It's important to note that the other taxpayers mentioned (Anwar, Rodney and Serena, and Wallace) do not meet the requirements for the EIC based on the information provided. They either have income that exceeds the qualifying limits or do not meet the other criteria mentioned above.
In conclusion, Allison (Option A) is the taxpayer who qualifies for the Earned Income Credit based on the given information. Therefore, the correct option is A.
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The question was incomplete, Find the full content below:
Which of the following taxpayers qualifies for the Earned Income Credit?
A. Allison (28) is filing as a single taxpayer with no dependents. Allison's earned income and adjusted gross income in 2021 was $24,900, all from wages. She had no other income. She is a U.S. citizen, lived in the United States for more than six months, and has a valid social security number that allows her to work. She did not have any foreign income and will not file Form 2555, Foreign Earned Income.
B. Anwar (20) is filing as a single taxpayer with no dependents. Anwar's earned income and adjusted gross income in 2021 was $13,333, all from wages. He had no other income. He is a U.S. citizen, lived in the United States for more than six months, and has a valid social security number that allows him to work. He did not have any foreign income and will not file Form 2555, Foreign Earned Income.
C. Rodney (38) and Serena (39) are married, filing a joint return. Rodney’s income from wages was $19,781. Serena's income from wages was $31,564. They had no other income in 2021. Rodney and Serena had their first child, Caleb, in July 2021. All are U.S. citizens, lived in the United States for more than six months, and have valid social security numbers that allow them to work. They did not have any foreign income and will not file Form 2555, Foreign Earned Income.
D. Wallace (40) is filing as a single taxpayer with no dependents. Wallace’s earned income and adjusted gross income in 2021 was $22,199, all from wages. He had no other income. Wallace is a U.S. citizen, lived in the United States for more than six months, and has a valid social security number that allows him to work. He did not have any foreign income and will not file Form 2555, Foreign Earned Income.
The ______is a financial statement detailing a firm's assets, liabilities, and owners' equity.
A. balance sheet
B. statement of cash flows
C. manufacturing statement
D. income statement
The income statement is a financial statement detailing a firm's assets, liabilities, and owner's equity. Thus, option 'D' is the correct option.
What is an income statement?One of a company's financial accounts, an income statement or profit and loss account, lists the company's revenues and costs for a specific time period. It describes the process through which revenues are converted into net income or net profit.
A period of time is represented by an income statement (as does the cash flow statement). The balance sheet, on the other hand, only depicts one point in time. There are two ways to create an income statement. The Single Step Income Statement calculates the net income by adding up all receipts and deducting all costs.
In order to get at the net income, the Multi-Step income statement makes a number of calculations, beginning with the gross profit and moving on to operational expenditure estimation. then, after taking the gross profit into account, you get income from operations.
Therefore, option 'D' (income statement) is the correct option.
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4.
Contrast the relationship that exists between entrepreneurs and investors in a business
enterprise.
Answer:
see below
Explanation:
1. An entrepreneur is the business founder. He or she conceives the business ideas and focuses on growing it. An investor considers existing business formed by the entrepreneur and focuses on its financial/commercial side.
2. The entrepreneur approaches an investor to finance the business. He draws a business plan and proposals to assure the investor of its viability. The investor approaches an entrepreneur if he is convinced of profits.
3. The entrepreneur manages the business but may also invest in it. An investor only puts money in the business but is not involved in managing it.
What are the 4 steps to branding
Answer:
Here are four steps to building a successful brand.
1 Define how you want to be perceived. When your customers have finished using your product or service, how do you want them to describe their experience? ...
2 Organize your business based on this promise. ...
3 Communicate your promise. ...
4 Be consistent.
Explanation:
Why are personal care aides expected to be paid so little in spite of being in such great demand?
Answer: Because they were the least educated, (something to do with that).
Explanation:
which of the following is a material used for salad making and dessert that need great care to ensure long shelf life?
A. glass
B. aluminium
C. cast iron
D. stainless steel
Answer:
I thoughts B becaisedvfdhjdshjhh
The ability to organize and evaluate what you watch, hear, and read is known as
Answer:
critical thinking skills
Explanation:
the definition is this word
Lydia is preparing financial statements for her company Who would be interested in the information provided in these financial statements? Financial statements are of prime importance to____, who will use the information to buy or sell stocks of the company. These statements are also inspected by____to look into any irregularities or fraud in the book of accounts.
Answer:
Lydia is preparing financial statements for her company Who would be interested in the information provided in these financial statements? Financial statements are of prime importance to Investors who will use the information to buy or sell stocks of the company. These statements are also inspected by an auditor to look into any irregularities or fraud in the book of accounts.
Explanation:
Investors
Investors are individuals or firms who offer capital to a business in exchange for a share in ownership and profits. They are external users of financial statements. Investors use financial statements to know what returns to expect from their investments. Existing and potential investors rely on financial reports to decide on whether to buy or sell their shares.
Auditor
An auditor is a skilled individual authorized to assess, evaluate, and validate financial statements' accuracy as prepared by a company. The auditor reviews and gives a professional and independent opinion on the company's financial affairs.
When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D
Answer:A, Your personal information may be used in ways you do not want
Explanation:
If it is a unsafe site than there for your personal information can go places you do not want them to.
When a site is unsafe, it means your personal information may be used in ways you do not want. Thus, option 'A' is the correct option.
What does it mean when a website is unsafe?External connections to websites with phishing, malware, or unwanted software are known as unsafe domains. Phishing is when a website imitates another one in an effort to fool visitors into divulging personal or financial information. When you visit an insecure website, you run the risk of having your personal information compromised and/or having malicious malware installed on your system.
Additionally, you can fall prey to a phishing attack, or someone else might watch your activity or use your resources for their own gain. If the content you're seeking to view is harmful or misleading, a warning will appear. These websites are frequently referred to as phishing or virus sites. If you clicked on a phishing link, the first thing you should do is immediately unplug your device from the internet.
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Match the financial statement with its description. To match them, click the Description and then click the Financial Report Name
Answer:
a-3 / b-2 / c-4 / d-1
Explanation:
Notes to financial statements: Includes a summary of significant accounting policies and explanations of specific items on the financial statements.
The notes are required by the full disclosure principle. Also referred to as footnotes. Provide additional information pertaining to a company's operations and financial position.
Report of independent registered public accounting firm: Attests to the fairness of the presentation of the financial statements.
is a process designed to provide reasonable assurance regarding the reliability of financial reporting.
Management's discussion and analysis of financial condition and results of operations (MD&A): Is written by the company to help investors understand the results of operations and the financial condition of the company.
Disclosure is mandatory where there is a known trend or uncertainty that is reasonably likely to have a material effect on the registrant's financial condition or results of operations
Financial statements: Includes the income statement, balance sheet, statement of stockholders' equity, and statement of cash flows.
are reports prepared by a company's management to present the financial performance and position at a point in time.
Financial statements refer to how company communicates their finance. The financial statement that reflects a company’s profitability is hereby given below.
Financial statements in sheetsThe various accounting activities that precedes financial statements are hereby matched below:
A. Statement of retained earnings or owner's equity
Include information of owner's retained earnings and dividends.
B. Income statement - Revenues
Shows revenues and expenses over a period of time.
C. Statement of cash flow
shows money moving in and out, categorized by operations, investing and finance
D. Balance Sheet
A snapshot of a company's assets, liabilities and equity at a specific moment in time.
Therefore, the answers are Statement of retained earnings or owner's equity, Income statement - Revenues, Statement of cash flow, Balance Sheet respectively.
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Which position in a business manages cash and cash equivalents?
-financial accountant
-controller
-cost accountant
-treasurer
Answer:
Financial Accountant
Explanation:
the liquid that pass through the filter is know as
Answer:
FILTRATE is the fluid that passes through a filter paper
RESIDUE is the left-over substances on the filter paper
FEED is the liquid poured on to the filter paper
How are technology and technical profession related
The Break-Even Point in your business is when
your company has repaid all of its debt
your company has exceeded its start up expectations
your company makes enough in revenue regularly to cover its expenses
your company repays all of the start up cost funding
Answer: In this letter you want to make sure that you are being clear and concise, so as to avoid any confusion about what your relationship will be in the future (ended). This means that you want to avoid any potential legal liability, and explain yourself in order to show that you are being fair and reasonable in your request.
Explanation:
The employees of xitrex, inc., are paid each friday. the company's fiscal year-end is june 30, which falls on a wednesday for the current year. salaries and wages are earned evenly throughout the five-day work week, and $11,000 will be paid on friday, july 2.
Answer and Explanation:
The Journal entries are shown below:-
1. Debit side is not given on 30th June. So, no journal entry will made.
2. Salaries and wages expenses Dr, $6,600 ($11,000 × 3 ÷ 5)
To Salaries and wages payable $6,600
(Being accrued wages and salaries is recorded)
Here the salaries and wages expense is debited as it increased the expenses and credited the salaries and wages payable as it also increased the liabilities
Does anyone know what the definition of expanding manufacturing is?
1. Give the three (3)
business resources
Answer:
Financial Resources
Human Resources
Educational Resources
Explanation:
A Balance Sheet does NOT show your company's (two answers are correct)
financial position over a specific period of time
liabilities
insurance coverage at a specific date in time
assets
Answer:
I think its the 1st and 3rd ones
Explanation:
Which of the following is the best definition of marketing?
All advertising done by a business
O Establishing a target market and maintaining it
O Thinking about what kinds of promotions a business should create
All methods of reaching and attracting potential customers
Answer: Marketing is an organizational function and a set of business activities designed to make profits.
Explanation:
Answer:
All methods of reaching and attracting potential customers.
Explanation:
This is because marketing is the practice of getting customers.
In which way are competitors stakeholders in a business?
A. They invest in competition
B. Competitors need to provide services
C. Competitors will want to position itself competitively
D. They enjoy learning about the competition
Answer:
B
Explanation:
l think so if u get it wrong and am sorry
Sam has take-home pay every month of $800. He anticipates that his expenses will add up to $675 for the month. In a zero-based budget, why is it important that she put the extra $125 in SOME budget category?
Answer:
see below
Explanation:
The Zero-based budgeting technique assumes there will be no balance bought forward nor balance carried forward. Budget preparation for a particular period must start from zero or scratch. Each expense must be on merit. Income and expenses must match. In the zero-based budget, the difference between income and expenditure must be zero.
If Sam has an income of $800 and expenses of $675, she has to re-work her costs again to ensure they match her income. The zero-based budget demands she draws her expenses list again and comes up with a way of spending the $125 difference.
Research some examples of organizations that experienced bad publicity and how they dealt with it. Write a paper detailing your findings.
Answer:
did you finish it cuase i got the same one
Explanation:
Admit the error, apologize, and present a solution if you or your company is receiving negative press as a result of anything you did incorrectly. Negative publicity won't disappear if you ignore it.
What do you mean by Negative publicity?When damaging material is revealed, negative PR or publicity can take many different forms in company and can impact everything from sales to your reputation.
Various forms of unfavorable PR for your company could include: negative coverage of your business in the media, online, in publications, or on television.
In particular, we contend that by raising product awareness, unfavorable publicity might boost sales and purchase likelihood.
Negative publicity should therefore affect products differently depending on whether they are recognized or unknown. This viewpoint is supported by three investigations.
Your brand's reputation can be severely damaged in a matter of minutes by false information, negative reviews, and nasty social media remarks. Even worse, rumors spread swiftly and negatively impact the reputation of your company.
Negative publicity can have a significant impact on how potential customers see your brand. When customers publicly disparage a company, product, or service, this is known as bad publicity.
Bad publicity includes posting or publishing negative evaluations on websites, review pages, and social media accounts.
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What is the advantage of developing criteria for assessing the effectiveness of business products and processes?
A. Assessment criteria are answers.
B. Assessment criteria are inexpensive.
C. Assessment criteria provide you with a list of relevant things to measure.
D. Assessment criteria provide you with a list of people to contact to learn more about process mentoring.
Answer:
.Assessment criteria provide you with a list of relevant things to measure.
Explanation:
Assessment criteria provides a list by which one can measure success or failure of a business products and processes.
Answer:
c
Explanation:
I need to submit this today, can you help me?
What are Washington D.C.’s people eating habits?
What are some economic facts about Washington DC?
What are some facts about Washington DC?
Culture and customs of Washington DC?
Travel information (Dubai to Washington DC)?
Answer:
I'm sure they eat well. have u try looking it up on goggle first
Select the best alternative for the following questions:
i. Which of the following transactions are not recorded in book keeping?
a) Sold Goods on Credit.
b)
Introduce capital in the business.
c) Resignation of marketing manager.
d) Drawing cash from business for personal use.
..
Answer:
c. the resignation
Explanation:
this would not affect the bottom line of the company and is therefore irrelevant
What type of industry would Tim Hortons and McDonalds be classified as?
The role of the Federal Reserve Board of Governors is to:
A. loan money to multinational corporations.
B. set discount rates and reserve requirements.
O c. enforce monetary policy on Federal Reserve banks.
O D. establish new Federal Reserve districts.
The role of the Federal Reserve Board of Governors is to enforce monetary policy on Federal Reserve banks. Hence, Option C is correct.
What is monetary policy?In macroeconomics, there is a policy whose duty is to make sure that policies that are made by the Board of Governors have been applied to all the central banks. This policy is known as monetary policy, which manages the flow or supply of money to all the banks.
This policy also manages the interest rate. Just like other policies, monetary policy also has some tools, With the help of these tools, it is easy to manage the policy. Tools are named as operations for the open market, requirements of the reserve, and lastly rate of discount.
Therefore, Option C is correct.
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Your factory has a contract to produce a new folding chair. Your role as manager is to find the greatest efficiencies possible throughout the process, so you call a meeting with your planning department. One of your engineers suggests putting more workers on the line but breaking up the tasks into more individual steps. What is your greatest concern regarding this approach? A increased time spent in training B reduced production C poor conditions for workers D cost to hire skilled workers
Answer:
A
Explanation:
I took the test and it was right
Stear Corp. decides to deposit $1,000 in its bank account. This cash was paid from the cash register of the company. What will be the entry made by the accountant in the company’s journal?
A.
Cash in Bank Account (debit) 1,000 Cash Account (credit) 1,000
B.
Cash Account (debit) 1,000 Cash in Bank Account (credit) 1,000
C.
Cash in Bank Account (debit) 1,000 Register Account (credit) 1,000
D.
Deposit Account (debit) 1,000 Cash Account (credit) 1,000
Answer:
Cash Account (debit) 1,000
Cash in Bank Account (Credit) 1,000
Explanation:
Given
[tex]Amount = \$1,000[/tex]
Required
Write a journal entry
In this case:
The company deposits $1000.
This means that, $1000 will be debited from the company's cash account.
So, the entry for that will be:
Cash Account (debit) 1,000
In the same vein, $1000 will be credited into the company's bank account.
So, the entry for that will be:
Cash in Bank Account (Credit) 1,000
Answer:
A
Explanation:
What is the difference between a salary and an hourly wage?
Answer:
Explanation:
A salary stays the same amount no matter how many hours you work. An hourly wage, you get paid for each hour you work; you get payed on WHAT you work.
What percent of the federal budget was spent on education in 2019?
Answer:
The President requests $59.9 billion in discretionary appropriations for the Department of Education in fiscal year 2019, an $8 billion or 12 percent reduction below the 2018 annualized Continuing Resolution (CR) level.
