Which of the Following Statements Concerning Extensions of Time to File

question 100

Multiple Choice

Which of the following statements concerning extensions of time to file an individual tax return is false?

• A) The extension of time to file does not extend the time for payment of any tax due.
• B) An individual may receive an automatic extension of the filing date without providing any explanation to the IRS.
• C) The extended due date of a calendar-year individual tax return is October 15 of the following year.
• D) An extension request must be filed before the end of the taxable year.

Recognize famous examples of cartels and their impact on global markets.

Differentiate between various market structures based on the number of firms and market behavior.

Understand how antitrust laws aim to prevent anti-competitive practices.

Examine the ethical and legal considerations in business practices like tying and predatory pricing.

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Definitions:

Minimum Wage

The lowest legal amount that an employer is permitted to pay an employee for work, usually set by government policy.

Expectations

Anticipations about the future, influencing economic agents’ decisions in markets.

Supply Curve

A graphical representation of the relationship between the price of a product and the quantity of the product that a seller is willing and able to supply.

Number of Sellers

The total count of individuals or entities offering a specific good or service in the market.