Identify Which of the Following Statements Is True

question 67

Multiple Choice

Identify which of the following statements is true.

• A) An S corporation must generally use a calendar year.
• B) A corporation that is a member of an affiliated group filing a consolidated tax return may be allowed a tax year which is different from the group's parent.
• C) A corporation's first year must cover a twelve- month period.
• D) All of the above are false.

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Definitions:

Sum

The result of adding two or more numbers or terms together, representing the total value.

Actual Parameter

A value or variable passed to a function or procedure when it is called, representing the actual input.

Method Call

The process of invoking a method in programming, causing the specified code within the method to be executed.