Which of the following statements regarding the earned income credit is true?

Question

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The earned income credit is based on earned income, meaning income from working rather than investment income. Therefore, a taxpayer whose only source of income is interest from corporate bonds would not be eligible for the credit. The credit is also refundable, so if the credit exceeds the taxpayer's tax liability, they will receive the excess as a refund. The amount of the credit is based on income and the number of dependents, so it is possible for a taxpayer with more earned income to receive more credit than a taxpayer with less earned income. Finally, there are age and dependency requirements to qualify for the credit, but a 70-year-old taxpayer with no dependents may still qualify if they meet other criteria.

Which of the Following Statements Regarding the Earned Income Credit