An income statement reports a firm's cumulative revenues and expenses from the inception of the

Jim Planter, who reached age 65 on January 1, 2016, filed a joint return for 2016 with his wife, Rita, who is 50 years old and legally blind. Mary, their 21-year-old daughter, was a full-time student at a college until her graduation on June 2, 2016. The daughter had $6,650 of income and provided 25% of her own support during 2016. In addition, during 2016, the Planters were the sole support for Rita's niece, who had no income. How many exemptions should the Planters claim on their 2016 tax return?

a. 5 b. 2 c. 4 d. 3

A long-term bond's price is less affected by interest rate movements than a short-term bond's price

Indicate whether the statement is true or false