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H&R BLOCK MIDTERM RE VIEW EXAM
WITH 100% CORRECT AN SWERS
Question :Which of the following is considered earned income?
C
a) Interest from a bank
b) Unemployment compensation
c) Income from farming
d) Gambling winnings
Correct answer:C
Question :The tax on income that comes entirely from wages
under $100,000 is determined according to the: A
a) Tax Tables
b) Tax Computation Worksheet
c) Qualified Dividends and Capital Gain Tax Worksheet
d) Schedule D Tax Worksheet
Correct answer:A
Question :Which of the following shows these numbers rounded
correctly: $31.43, $143.57, $369.22, $1,547.88. B
- $32. $142. $368. $1,547.
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- $31. $144. $369. $1,548.
- $31. $142. $369. $1,547.
- $32. $144. $368. $1,547.
Correct answer:B
Question :Which form is used by employers to report wages
earned by their employees? A
a) Form W-2
b) Form W-4
c) Form 1040
d) Form 1040A
Correct answer:A
Question :What is the exemption amount for 2017? B
- $3,850
- $4,050
- $5,050
- $6,050
Correct answer:B
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Question :The following three factors determine the filing
requirement for nondependents: B
a) Marital status, age, and residency
b) Marital status, age, and gross income
c) Marital status, age, and taxable income
d) Marital status, age, and total deductions
Correct answer:B
Question :The standard deduction on an income tax return is
determined by: C
a) Citizenship
b) Residency
c) Filing status
d) Gross income
Correct answer:C
Question :The head of household filing status requires that a
taxpayer maintain a household for: A
a) A qualifying child, qualifying relative, or a parent whom the
taxpayer is allowed to claim as an exemption on their tax return
b) At least one other person
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c) A beloved family pet
d) Maintaining a household for another person is not a
requirement of the HOH filing status.
Correct answer:A
Question :For tax purposes, when is a person's marital status
determined? D
a) On the first day of the tax year.
b) On the taxpayer's birthday.
c) On the day the person files their tax return.
d) On the last day of the tax year.
Correct answer:D
Question :Under what circumstances might a taxpayer who does
not meet the federal filing requirement want to file a return anyway? A
a) If there was any federal tax withheld or they are entitled to
any refundable credits.
b) If there was any federal tax withheld or they are entitled to
any nonrefundable credits.