ACC 401 Week 1 Quiz

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ACC 401 Week 1 Quiz

1. The taxpayer’s spouse died at the beginning of 2011. He has no qualifying child. Which status should the taxpayer select when filing his tax return for 2012?

2. Under the cash receipts and disbursements method, the taxpayer reports income in the year:

3. Mirtha is 21 years of age and a full-time student living by herself. She had wages of $23,000 for 2012. Can Mirtha claim the exemption for herself on her tax return?

4. For tax purposes, one of the requirements to recognize income is:

5. Tina is 21 years of age and a full-time student living with her parents. She had wages of $680 ($70 of income tax withholding) for 2012. Can Tina claim her exemption on her return even though her parents will claim her as a dependent on their tax return?

6. A 35-year-old taxpayer with a dependent child and claiming head of household status has received $28,000 in alimony payments and earned wages of $46,000. Which is the simplest form this person can file?

7. Which of the following is an example of a regressive tax?

8. To be a qualifying relative, the taxpayer must meet three general tests and four specific tests. Which one is not part of the four specific tests?

9. To be a qualifying child, the taxpayer must meet three general tests and five specific tests. Which one is not part of the five specific tests?

10. Which of the following would disqualify a taxpayer from filing a Form 1040EZ?