Identify Which of the Following Statements Is False

question 55

Multiple Choice

Identify which of the following statements is false.

• A)The IRS will not issue a ruling on the topic of whether compensation is reasonable.
• B)Tax returns for all taxpayers must be filed on or before the fifteenth day of the fourth month following the year-end.
• C)A corporation must file a tax return even if it has no gross income.
• D)Extensions of time for filing tax returns may be obtained.

Develop and interpret a statement of cash flows including reconciliation with the cash account.

Understand and calculate return on equity and other financial performance metrics.

Apply the Du Pont equation to analyze financial problems.

Classify the proceeds from sales of assets, depreciation, and sales of bonds into operating, investing, or financing activities.

---

Definitions:

Leukemia

A form of cancer targeting the blood and bone marrow, marked by excessive production of irregular white blood cells.

Fungal Infections

Infections caused by pathogenic fungi that can affect the skin, nails, body hair, internal organs, or mucous membranes.

Easy Bruising

A condition where an individual tends to get bruises from minor injuries or sometimes no apparent cause.

Excess Bleeding

A condition where an individual loses more blood than normal, potentially due to injuries, medical conditions, or medications, requiring medical attention.