An Automatic Extension of Time from the Regular Filing Date

question 50

Multiple Choice

An automatic extension of time from the regular filing date for an individual tax return may be received, without giving the IRS a reason, for

• A) 2 months.
• B) 6 months.
• C) 3 months.
• D) 4 months.

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Definitions:

Average Product

The output per unit of input, such as the quantity of goods produced per worker, used to measure productivity.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, whilst holding other inputs constant.

Total Product

The total output of goods or services produced by a firm during a given period of time.

Diminishing Marginal Returns

A principle stating that as more of a production input is added, holding all others constant, the resulting additional output will eventually decrease.