A C Corporation Must Use a Calendar Year as Its

question 20

True/False

A C corporation must use a calendar year as its tax year unless it has a substantial business purpose to use a fiscal year.

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Definitions:

Wedge

A simple tool with a tapered shape, used for splitting, lifting, or holding things apart.

Horseshoe

In logic, often symbolizes the material implication operator, indicating that if the first statement is true, then the second statement must also be true.

Triple Bar

A symbol (≡) used in logic to denote that two statements are logically equivalent.

Tilde

a character (~) used in various contexts including mathematics to indicate similarity or approximation, and in computing to represent home directories or negation.