A Corporation Must Make an S Election for the Current

question 74

True/False

A corporation must make an S election for the current year after March 15 in the case of a calendar-year corporation.

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Definitions:

Budget Deficit

The financial situation where an entity's expenditures exceed its revenues.

Import Quotas

Government-imposed limits on the quantity or value of goods that can be imported into a country.

Capital Flight

A phenomenon where money or assets rapidly flow out of a country, often in response to economic or political instability.

Loanable Funds

A term in economics that refers to all the money available for borrowing, encompassing both savings and credits created in the banking system.