Identify Which of the Following Statements Is False

question 87

Multiple Choice

Identify which of the following statements is false.

• A) A C corporation short- year income tax liability must be determined on an annualized basis.
• B) If the termination of an S election is considered to be inadvertent, then the election is permitted to continue in place as if the termination had never occurred.
• C) A corporation can obtain relief for a late S election if the IRS consents.
• D) If an S election is terminated and the termination is not considered to be inadvertent, a ten- tax- year waiting period is required before making a new election.

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Definitions:

Companionate Love

A form of love characterized by deep friendship, comfort, and strong emotional bonds, often found in long-term relationships.

Passionate Love

An intense emotional and sexual attraction to another person, often characterized by euphoria and desire for closeness.

Mature Love

A deep, enduring form of affection and bond between individuals characterized by mutual respect, attachment, and commitment.

Collectivism

A cultural value that emphasizes the importance of groups and the collective over the desires or needs of the individual.