Identify Which of the Following Statements Is False

question 43

Multiple Choice

Identify which of the following statements is false.

• A)An S corporation files a Form 1120S corporate income tax return on or before the 15th day of the fourth month following the close of its tax year.
• B)An S corporation's ordinary income or loss is reported by an individual shareholder on Schedule E of Form 1040.
• C)An S corporation that owes the built-in gains tax or the excess net passive income tax must make quarterly estimated tax payments.
• D)An S corporation cannot use the prior-year tax liability exception when determining the required payment to be made with respect to the built-in gains tax.

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Definitions:

Tab Marker

A feature in word processing and text editing applications that allows users to set precise stop points for text alignment using the Tab key.

Ruler

A tool in many software applications that provides a visual guide for aligning text, images, and other elements within a document.

Border from Paragraph

A style option that adds a visible outline around a paragraph's text in a document.

No Border Button

A tool in software applications used to remove the border from a selected object or table cell.