What is the difference between assets and liquid assets? a. all assets represent money, but only liquid assets can be easily turned into spendable money and used to pay debts. b. an asset represents a credit or a positive value, while a liquid asset represents a debit or a negative value. c. assets are money gained from your job, while liquid assets are money gained from sources such as investments or inheritances. d. an asset is owned by you alone, while a liquid asset is shared among several people, such as a married couple or a group of investors.

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills. what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i. e, his fifth year, not his junior year).