Identify Which of the Following Statements Is True

question 63

Multiple Choice

Identify which of the following statements is true.

• A)A corporation that is a member of an affiliated group filing a consolidated tax return may be allowed a tax year which is different from the group's parent.
• B)An S corporation must generally use a calendar year.
• C)A corporation's first year must cover a twelve-month period.
• D)All of the above are false.

---

Definitions:

Personal Computer

A computer designed for use by one person at a time, suitable for general tasks such as writing, internet browsing, and gaming.

Internet Sites

Websites or web pages that are accessible on the internet, providing information, services, or products to users.

Legitimate Power

Authority or influence that is recognized and accepted by others as valid or rightful within a social or organizational context.

Social Structure

The organized pattern of social relationships and social institutions that compose a society.