Identify Which of the Following Statements Is False

question 43

Multiple Choice

Identify which of the following statements is false.

• A)An S corporation files a Form 1120S corporate income tax return on or before the 15th day of the fourth month following the close of its tax year.
• B)An S corporation's ordinary income or loss is reported by an individual shareholder on Schedule E of Form 1040.
• C)An S corporation that owes the built-in gains tax or the excess net passive income tax must make quarterly estimated tax payments.
• D)An S corporation cannot use the prior-year tax liability exception when determining the required payment to be made with respect to the built-in gains tax.

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Definitions:

Software Development

The methodology of generating ideas, setting specifications, designing, writing code, keeping records, conducting tests, and fixing errors included in the production and maintenance of applications, frameworks, or different software elements.

Project Management

The practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.

Web App

A program situated on an external server, reachable and utilized through a web browser interface over the Internet.

Electronic Document

A digital form of a document that can be created, viewed, edited, stored, and transmitted electronically, often in formats like PDF or DOC.