What Tax Year-End Must an Unincorporated Entity with Only One

question 67

Multiple Choice

What tax year-end must an unincorporated entity with only one owner adopt?

• A)The entity is free to adopt any tax year-end.
• B)The entity must adopt the same year-end as its owner.
• C)The entity must adopt a calendar year-end.
• D)The entity may adopt any year-end except for a calendar year-end.

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Definitions:

Worker Boredom

A state of uninterest and lack of engagement that employees may experience due to repetitive tasks or lack of stimulation.

High Employee Turnover

The situation in which an organization or business experiences a rapid and frequent change of staff members.

Information Overload

Occurs when an individual is exposed to more information than they can process or handle, leading to overwhelm or decision-making difficulties.

Functional Organization

An organizational structure where the company is divided into departments based on their functions, such as marketing or finance.