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:

Illness Management

Refers to the strategies and practices employed to control or cope with a disease, aiming to improve the patient's quality of life.

Acute

Refers to conditions or diseases that occur suddenly and often severely, demanding immediate attention, but typically are short-lived.

Chronic

Describing a condition or disease persisting for a long time or constantly recurring, often referring to disorders or illnesses.

Usual Duties

The normal or routine tasks and responsibilities associated with a particular role or position.