Practice Test on Supply Chain Management 
PRACTICE EXAM 1
First Name _________________________________
Last Name ---------------------------------MATH 1013
_____________________________________________________________________________________________________
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
Provide an appropriate response.
1) IRS guidelines state that a married person under 65 years of age who can be claimed as a dependent on another person's tax return must file a return if
(i) unearned income was over $750; or
(ii) earned income was over $3925; or
(iii) total of earned and unearned income was at least $5 and your spouse files a separate return and itemizes deductions; or
(iv) total of earned and unearned income was more than the greater of
a) $750; or
b) earned income (up to $3675) plus $250.
1)
Kevin is 25 years old and can be claimed as a dependent by his mother. He had earned income of $3500 and unearned income of $700. Kevin's wife Linda files a separate return but does not itemize deductions. Must Kevin file a return? Explain.
Analyze the situation and explain how you would make a decision.
2) You need a rental car for four days. The daily rate is $20 per day plus 20¢ per mile. The weekly rate is $100, and mileage is included. Which is the better option?
Provide an appropriate response.
3) IRS guidelines state that a married person under 65 years of age who can be claimed as a dependent on another person's tax return must file a return if
(i) unearned income was over $750; or
(ii) earned income was over $3925; or
(iii) total of earned and unearned income was at least $5 and your spouse files a separate return and itemizes deductions; or
(iv) total of earned and unearned income was more than the greater of
a) $750; or
b) earned income (up to $3675) plus $250.
2)
3)
Julia is 45 years old and can be claimed as a dependent by her father. She had earned income of $3800 and unearned income of
First Name _________________________________
Last Name ---------------------------------MATH 1013
_____________________________________________________________________________________________________
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
Provide an appropriate response.
1) IRS guidelines state that a married person under 65 years of age who can be claimed as a dependent on another person's tax return must file a return if
(i) unearned income was over $750; or
(ii) earned income was over $3925; or
(iii) total of earned and unearned income was at least $5 and your spouse files a separate return and itemizes deductions; or
(iv) total of earned and unearned income was more than the greater of
a) $750; or
b) earned income (up to $3675) plus $250.
1)
Kevin is 25 years old and can be claimed as a dependent by his mother. He had earned income of $3500 and unearned income of $700. Kevin's wife Linda files a separate return but does not itemize deductions. Must Kevin file a return? Explain.
Analyze the situation and explain how you would make a decision.
2) You need a rental car for four days. The daily rate is $20 per day plus 20¢ per mile. The weekly rate is $100, and mileage is included. Which is the better option?
Provide an appropriate response.
3) IRS guidelines state that a married person under 65 years of age who can be claimed as a dependent on another person's tax return must file a return if
(i) unearned income was over $750; or
(ii) earned income was over $3925; or
(iii) total of earned and unearned income was at least $5 and your spouse files a separate return and itemizes deductions; or
(iv) total of earned and unearned income was more than the greater of
a) $750; or
b) earned income (up to $3675) plus $250.
2)
3)
Julia is 45 years old and can be claimed as a dependent by her father. She had earned income of $3800 and unearned income of