Identify Which of the Following Statements Is False

question 82

Multiple Choice

Identify which of the following statements is false.

• A)A C corporation short-year income tax liability must be determined on an annualized basis.
• B)If the termination of an S election is considered to be inadvertent, then the election is permitted to continue in place as if the termination had never occurred.
• C)If an S election is terminated and the termination is not considered to be inadvertent, a ten-tax-year waiting period is required before making a new election.
• D)A corporation can obtain relief for a late S election if the IRS consents.

Understand the impact of social factors, such as the threat of rejection, on economic decisions.

Comprehend the concept of time inconsistency and its implications on decision-making.

Recognize the role and effectiveness of precommitments in influencing behavior and decisions.

Understand the timeline and global context of slavery abolition in the Western Hemisphere.

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Definitions:

Windings

Coils of wire around a core in electrical devices, used to create magnetic fields or induce currents.

Wye

A configuration for connecting three-phase power where the phases are connected at a common point, forming a Y shape.

Delta

In electrical engineering, refers to a method of connecting three-phase circuits where the ends of each coil are connected in a triangle or delta shape, allowing for the use of each phase.

Delta Connected

A three-phase connection method where the end of each coil connects to the beginning of another, forming a closed loop that resembles the Greek letter Delta (Δ).