Identify Which of the Following Statements Is False

question 82

Multiple Choice

Identify which of the following statements is false.

• A)A C corporation short-year income tax liability must be determined on an annualized basis.
• B)If the termination of an S election is considered to be inadvertent, then the election is permitted to continue in place as if the termination had never occurred.
• C)If an S election is terminated and the termination is not considered to be inadvertent, a ten-tax-year waiting period is required before making a new election.
• D)A corporation can obtain relief for a late S election if the IRS consents.

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Definitions:

Performance Appraisal System

A performance appraisal system is a structured process through which employees' job performance is regularly evaluated, providing feedback, identifying areas for improvement, and determining development needs.

Totality Quality Management

A management approach centered on quality, based on the participation of all members of an organization and aiming at long-term success through customer satisfaction, and benefits to all members of the organization and to society.

Price Discriminating

A pricing strategy where a company charges different prices for the same product or service to different customers, based on their willingness to pay.

Willingness to Pay

The maximum amount an individual is prepared to spend to purchase a good or service or to avoid something undesirable.