When a New Business Is Formed,it Must Request Approval from the IRS

question 3

True/False

When a new business is formed,it must request approval from the IRS regarding the adoption of its various accounting methods.

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Definitions:

Gonads

Organs that produce gametes; in males, they are the testes, and in females, the ovaries.

Broca's Area

An area located within the dominant hemisphere's frontal lobe that is associated with the generation of speech.

Wernicke's Area

A region of the brain in the temporal lobe involved in the understanding of spoken language.

Prefrontal Cortex

The front part of the frontal lobes of the brain, involved in executive functions such as decision making, problem-solving, control of purposeful behaviors, consciousness, and emotions.