Except in a Few Specific Circumstances,once Adopted,an Accounting Period May

question 91

True/False

Except in a few specific circumstances,once adopted,an accounting period may be changed without IRS approval.

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Definitions:

Legal System

The legal system is the framework of rules, courts, and institutions that govern the legal process and administration of justice in a society, including laws, regulations, and judicial decisions.

Defendant's Sanity

A legal determination regarding whether a defendant was mentally capable of understanding the nature of the crimes they are accused of and distinguishing right from wrong at the time of the offense.

Mental State

The condition of one's mind or psychological disposition at a particular time, including thoughts, feelings, and mood.

Historical Information

Data or facts about past events and contexts that can be used for understanding the present or predicting future trends.