Which of the Following Is Not an Acceptable Method of Determining

question 41

Multiple Choice

Which of the following is not an acceptable method of determining the required annual payment of federal income tax for corporations?

• A)100 percent of the prior year's tax liability (with a few exceptions).
• B)100 percent of the current year's tax liability.
• C)100 percent of the estimated current-year tax liability using the annualized income method.
• D)All of the choices are acceptable methods of determining the required annual payment of federal income tax for corporations.

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Definitions:

Oil Trust

Historical term referring to monopolies or near-monopolies in the oil industry, specifically in the United States during the late 19th and early 20th centuries.

Airline Deregulation Act

A United States federal law passed in 1978 that removed governmental control over fares, routes, and market entry of new airlines, significantly reducing barriers to entry in the airline industry.

Civil Aeronautics Board

The Civil Aeronautics Board was a federal agency in the United States that regulated aviation services, including fares, routes, and schedules, before its dissolution in 1985.

Fares

The prices charged for transportation services, such as bus, train, or airplane tickets.