Identify Which of the Following Statements Is True

question 63

Multiple Choice

Identify which of the following statements is true.

• A)A corporation that is a member of an affiliated group filing a consolidated tax return may be allowed a tax year which is different from the group's parent.
• B)An S corporation must generally use a calendar year.
• C)A corporation's first year must cover a twelve-month period.
• D)All of the above are false.

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Definitions:

Social Interactions

Engagements between individuals or groups, involving communication, exchange of ideas, or cooperative activities within a social context.

Practical Methods

Techniques or procedures that are considered to be effective and sensible in real-world applications.

Logical Persuasion

The process of influencing someone's beliefs or behaviors through the use of reasoned arguments and factual evidence.

Shoelaces

Strings or cords used for fastening shoes.