1. Which of the following can increase your income making AGI higher?
a) IRA contributions b) interest income c) moving expenses d) exemptions e) all of the above
2. Suppose that Mike's assets are an automobile worth $14,000 and electronics worth $6000. He has a student loan balance of $10,000 and a balance of $4,000 on his car loan. What is his net worth?
a) -$9,000
b) +$9,000
c) +$7,000
d) $6,000