A Business Generally Adopts a Fiscal or Calendar Year by Using

question 119

True/False

A business generally adopts a fiscal or calendar year by using that year-end on the first tax return for the business.

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Definitions:

Soviet Union

A federal socialist state in Eastern Europe and Asia, existing from 1922 to 1991, and was a major player in global affairs.

Foreign Policy

A government's strategy in dealing with other nations, including diplomacy, military action, and other interactions.

1972 Summit

A significant series of meetings during the Cold War, particularly referring to the historic Summit Series ice hockey competition between Canada and the Soviet Union.

China

A vast East Asian country with a rich history, diverse culture, and the world's largest population.