Answer:
a. gross income test
Explanation:
because quailfying children must pass the relationship, age support, residence tests.However,there is no requirement relating to gross income for purposes of the qualifying child test.
Answer:
1. Authorized shares = 300,000 shares
2. Issued shares = 160,000 shares
3. Outstanding shares
= Issued shares- Shares repurchased
= 160,000 - 25,000
= 135,000 shares
Explanation:
Authorized shares are shares that a firm is allowed by law to issue to the public.
Issued shares are shares that a company offers to the public for subscription.
Outstanding shares are shares remaining after the share repurchase.
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