Identify Which of the Following Statements Is False

question 43

Multiple Choice

Identify which of the following statements is false.

• A)An S corporation files a Form 1120S corporate income tax return on or before the 15th day of the fourth month following the close of its tax year.
• B)An S corporation's ordinary income or loss is reported by an individual shareholder on Schedule E of Form 1040.
• C)An S corporation that owes the built-in gains tax or the excess net passive income tax must make quarterly estimated tax payments.
• D)An S corporation cannot use the prior-year tax liability exception when determining the required payment to be made with respect to the built-in gains tax.

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Definitions:

Perilymph

A fluid in the inner ear. When this fluid moves, it activates hearing and equilibrium receptors.

Semicircular Canals

Structures within the inner ear that are key to the body's vestibular system, aiding in balancing and sensing orientation in three-dimensional space.

Equilibrium Receptors

Specialized sensory receptors that help maintain balance by detecting changes in head position and motion.

Hearing Receptors

Sensory cells located in the inner ear that convert sound waves into electrical signals for the brain to interpret as sound.