Identify Which of the Following Statements Is True

question 65

Multiple Choice

Identify which of the following statements is true.

• A)A partnership is not required to file a return if the partnership has no income for the year.
• B)The "automatic" extension period for filing an individual return is five months.
• C)Individuals and corporations may obtain six-month extensions for paying taxes and filing their returns for the taxable year by filing the appropriate extension requests.
• D)All of the above are false.

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Definitions:

Monetary Incentives

Financial rewards given to employees or stakeholders to motivate performance or behaviors aligned with organizational objectives.

Performance Increases

Improvements in the efficiency, effectiveness, or quality of work produced by an individual or team.

Overpaid Worker

An employee who receives compensation significantly above the market rate for their role or performance level.

Equity

The principle of fairness and justice in the distribution of benefits, resources, and responsibilities.