Identify Which of the Following Statements Is False

question 61

Multiple Choice

Identify which of the following statements is false.

• A)A corporation's fiscal year generally must end on the last day of the month.
• B)A fiscal year may not end on December 31.
• C)A new corporation can elect a fiscal year that runs from February 16 to February 15 of the following year.
• D)A corporation's first tax year may not cover a full 12-month period.

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Definitions:

Kingpin

A central pivot in the steering mechanism of a vehicle, crucial for the steering system.

Snap Rings

Retaining rings inserted into a groove to hold components in assembly, often used in mechanical devices to secure parts in place.

Steering Knuckle Assembly

The steering knuckle assembly is a pivotal component in a vehicle's steering system, connecting the wheel and tire to the suspension system.

Freeplay Specification

A specified amount of free movement allowed within a mechanical system before engagement or activation.