Identify Which of the Following Statements Is False

question 58

Multiple Choice

Identify which of the following statements is false.

• A) An S corporation that owes the built- in gains tax or the excess net passive income tax must make quarterly estimated tax payments.
• B) An S corporation's ordinary income or loss is reported by an individual shareholder on Schedule E of Form 1040.
• C) An S corporation files a Form 1120S corporate income tax return on or before the 15th day of the fourth month following the close of its tax year.
• D) An S corporation cannot use the prior- year tax liability exception when determining the required payment to be made with respect to the built- in gains tax.

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Definitions:

Social Media Management

The process of creating, scheduling, analyzing, and engaging with content posted on social media platforms.

Sprinklr

A comprehensive customer experience management platform that enables organizations to manage customer interactions across various digital channels.

Competitor

A person or business that is in the same industry or market as another and competes for the same customers or resources.

Live Stories

A feature in social media that allows users to post real-time videos or images that create a narrative, often disappearing after 24 hours.