Once a USCorporation Chooses a Method to Allocate Interest Expense,either Fair Market

question 51

True/False

Once a U.S.corporation chooses a method to allocate interest expense,either fair market value or tax book value,that election cannot be changed without the permission of the commissioner of the Internal Revenue Service.

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Definitions:

Dimethyl Ether

A colorless gas used as a propellant, refrigerant, and solvent, composed of two methyl groups bonded to an oxygen atom.

3-Ethylfuran

A heterocyclic organic compound with the formula C6H8O, featuring a furan ring with an ethyl substituent.

4,4-Dimethylpyran

A six-membered oxygen-containing heterocycle with two methyl groups attached to the fourth carbon.

Ethers

A class of organic compounds containing an oxygen atom connected to two alkyl or aryl groups.