Sole Proprietorships Must Use the Same Tax Year as the Proprietor

question 22

True/False

Sole proprietorships must use the same tax year as the proprietor of the business.

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Definitions:

Grizzly Bear

A large species of bear found in North America, known for its distinctive humped shoulders and powerful physique.

Slow Reproduction Rate

A characteristic of some species that have fewer offspring and longer gestation periods, often leading to vulnerability and risk of extinction.

Biological Extinction

The disappearance of an entire species from the face of the Earth, which occurs when the last individual member dies.

Vulnerable

A status indicating that a species is at high risk of endangerment in the wild, often used in conservation contexts to prioritize efforts.