Identify Which of the Following Statements Is True

question 12

Multiple Choice

Identify which of the following statements is true.

• A)The natural business year for fiscal-year election purposes is any tax year that ends within six months after the peak period of business.
• B)Section 444 permits an S corporation to elect to use a fiscal year other than a permitted year.
• C)A new corporation that is 100% owned by Johnny Blake, a cash method of accounting taxpayer, makes an S election for its initial tax year. The S corporation must also elect to use the cash method of accounting as its overall accounting method.
• D)All of the above are false.

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Definitions:

Class Throwable

The superclass of all errors and exceptions in the Java language, from which all exception classes are derived.

Superclass

The parent class from which a subclass inherits properties and methods in object-oriented programming.

Class Exception

A type in programming that is used to handle errors and other exceptional events in Java code.

NextInt

A method in Java's Scanner class that reads the next token from the input as an int.