Identify Which of the Following Statements Is False

question 37

Multiple Choice

Identify which of the following statements is false.

• A)A corporation must file an information return with the Internal Revenue Service within thirty days of adopting a resolution to liquidate.
• B)The adoption of a formal plan of liquidation can provide additional benefits under tax laws to the corporation and its shareholders.
• C)A plan of liquidation must be produced in writing in order to be accepted by the Internal Revenue Service.
• D)The adoption of a plan of liquidation permits a parent corporation a three-year time period to carry out the complete liquidation of its subsidiary.

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Definitions:

Documentation

The process of creating supportive written or printed material that explains or instructs on how to use a product, complete a process, or understand a concept.

Trustworthy Information

Information that is reliable, accurate, and can be depended upon, often verified by credible sources.

Accessibility

The measure of how easily people can use and access a product or environment, taking into consideration a wide range of physical and cognitive disabilities.

Design Features

Characteristics of a product, system, or process that are carefully planned and executed to achieve a specific requirement or function.