1. Taxpayers who are blind get the benefit of: a.An additional amount added to their standard deduction. b.Two standard deductions. c.An extra exemption. d.None of these choices are correct.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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1. Taxpayers who are blind get the benefit of:

a.An additional amount added to their standard deduction.

b.Two standard deductions.

c.An extra exemption.

d.None of these choices are correct.

 

2. An unmarried taxpayer who maintains a household for a dependent child and whose spouse died four years ago should file as:

a.Single

b.Head of household

c.Married, filing separately

d.Qualifying widow(er)

e.None of these choices are correct.

 

3. To pay for college, Henry received the following:

 

$1,000 scholarship from the Thespian Club to pay for books

$4,000 scholarship from the Elks Lodge for tuition

$5,000 worth of room and board as a dorm supervisor through a work-study program

 

How much income must Henry report on his tax return?

a.$4,000

b.$0

c.$5,000

d.$6,000

e.$10,000

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