All of the Following Statements Are True Except

question 99

Multiple Choice

All of the following statements are true except

• A)once adopted,an accounting period normally cannot be changed without approval by the IRS.
• B)taxpayers who change from one accounting period to another must annualize their income for the resulting short period.
• C)taxpayers filing an initial tax return are required to annualize the year's income and prorate exemptions and credits.
• D)an existing partnership can change its tax year without prior approval if the partners with a majority interest have the same tax year to which the partnership changes.

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Definitions:

Sexual Identity

An individual's understanding and personal sense of their own sexuality, including their sexual orientation, preferences, and roles.

Parental Influence

The impact that parents have on their children's behavior, development, attitudes, and life choices.

Personality

A set of emotional, behavioral, and cognitive patterns that characterize an individual and differentiate them from others.

Culture Traditions

Practices, beliefs, and objects that are passed down through generations, which help to define a particular group or society.