Identify Which of the Following Statements Is True

question 30

Multiple Choice

Identify which of the following statements is true.

• A) 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.
• B) A partnership is not required to file a return if the partnership has no income for the year.
• C) The "automatic" extension period for filing an individual return is five months.
• D) All of the above are false.

---

Definitions:

Ordinary Annuity

A financial product involving regular payments received or paid over a designated period of time at equal intervals.

Financial Calculator

A specialized calculator designed to perform financial functions, including interest rate calculations, investment appraisal, amortization schedules, and more.

Compounded Semi-annually

Interest calculated twice a year on both the initial principal and the accumulated interest from previous periods.

Month-end Contributions

The act of adding funds to an investment, account, or plan specifically at the end of a month.