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.

---

Definitions:

RFID Tags

Small electronic devices that use radio frequency identification to track and identify objects.

Retail Stores

Physical locations where consumers can purchase goods and services directly from a seller in person.

Inventory

Items or stock held by a business for the purpose of resale or production, including raw materials, work-in-progress, and finished goods.

SCIS Management

The management of supply chain and information systems, focusing on optimizing and streamlining both the physical flow of goods and the flow of information.