Which of the Following Statements About Federal Tax Return Filing

question 69

Multiple Choice

Which of the following statements about federal tax return filing dates is false?

• A) A corporation with a fiscal tax year ending on September 30 must file its unextended Form 1120 by January 15 following the close of the tax year.
• B) A corporation may request an automatic extension of time to file Form 1120.
• C) A corporation may request an extension of time to pay any balance due of its annual income tax if it has reasonable cause for the delay.
• D) None of these choices are false.

Grasp the distinction and application of different fiscal policy tools.

Understand the global aspects of national debt and the influence of foreign investment on domestic economy.

Understand the concept of self-awareness and its complexities.

Recognize how social interactions and comparisons shape one's self-concept and self-esteem.

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Definitions:

Current Ratio

Measures a company's ability to pay short-term obligations with its short-term assets.

Market Ratio

A financial ratio used to evaluate the performance, value, and profitability of a company within the marketplace.

Book Ratio

A financial ratio that compares a company's book value to some other indicator, often used in the context of a price-to-book ratio.

Inventory Turnover

A financial ratio indicating how many times a company has sold and replaced inventory over a period.