Identify Which of the Following Statements Is True

question 2

Multiple Choice

Identify which of the following statements is true.

• A)A partnership is not required to file a return if the partnership has no income for the year.
• B)The "automatic" extension period for filing an individual return is five months.
• C)Individuals and calendar year-end corporations may obtain six-month extensions for paying taxes and filing their returns for the taxable year by filing the appropriate extension requests.
• D)All of the above are false.

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Definitions:

Public Transportation

A system of vehicles such as buses and trains that operate at regular times on fixed routes and are available for use by the general public.

Core Manufacturing Firms

Companies that are central to the manufacturing sector, producing essential goods required by various industries.

Basic Services

Essential services required to meet basic human needs, including water, sanitation, electricity, healthcare, and education.

Few Competitors

A market situation characterized by a limited number of businesses or entities providing similar products or services, often leading to less competition.