Identify Which of the Following Statements Is False

question 57

Multiple Choice

Identify which of the following statements is false.

• A)The check-the-box regulations permit an LLC to be taxed as a C corporation.
• B)Under the check-the-box regulations, an LLC that has only two members (owners)must be taxed as a partnership.
• C)A business need not be incorporated under state or federal law to be taxed as a corporation.
• D)Once an election is made to change its classification, an entity cannot change again for 60 months.

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Definitions:

Cultural Psychology

A branch of psychology that studies how culture influences thought, behavior, and emotions.

Traditional Social Psychology Methods

Research techniques regularly used in social psychology to explore the thoughts, feelings, and behaviors of individuals in a social context.

Qualitative Methods

Involves non-numerical research techniques used to explore concepts, experiences, or environments through observation, interviews, or analysis of text and symbols.

Ultimate Attribution Error

A cognitive bias that involves making more favorable or unfavorable attributions about a group based on negative or positive behaviors, respectively.