Once a Corporation Has Elected a Taxable Year,it Can Change

question 29

Multiple Choice

Once a corporation has elected a taxable year,it can change the taxable year without IRS permission if

• A)the resulting short period does not have a net operating loss.
• B)the corporation has not changed its accounting period within the last ten years.
• C)the annualized income for the short period is at least 80% of the corporation's income for the preceding taxable year.
• D)All of the above conditions must be met.

Analyze capacity management strategies including lead, lag, and straddle strategies.

Understand and calculate break-even points for a single or multiple products.

Assess the financial viability of capacity alternatives using net present value analysis.

Understand the theory of constraints as applied to production and operations management.

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Definitions:

Possible Obligation

A potential future outflow of resources embodying economic benefits, arising from past events, whose existence will be confirmed only by uncertain future events.

Uncertain Future Event

A potential occurrence or situation whose outcome cannot be predicted with certainty, often impacting planning and decision-making.

Economicbenefits

The potential to bring about advantages in terms of increased cash flows or reduced cash outflows, contributing to the value of an entity.

Bank Guarantee

A financial instrument provided by a bank on behalf of a client, ensuring payment to a beneficiary if the client fails to fulfill contractual obligations.