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:

Analytic Intelligence

Refers to the ability to analyze, evaluate, judge, compare, and contrast information, often considered one of the components of generalized intelligence.

Environmental Toxins

Harmful substances found in the environment, which can include pollutants, chemicals, and biological agents that negatively impact health.

Cognitive Development

Refers to the growth of mental capabilities and processes, including thinking, reasoning, problem-solving, and understanding the world around us.

Financial Resources

Assets and means available to an individual or organization to fund its operations and projects.