John Forgot to File His Tax Return by April 15

question 8

Multiple Choice

John forgot to file his tax return by April 15.He did not file an extension.John finally filed his tax return on June 30 and had a remaining tax liability of $1,500.What is John's failure to file penalty? Assume he made all his payments on time.

• A)$375.
• B)$225.
• C)$233.
• D)$300.

---

Definitions:

Post-Acquisition Equity

The change in the investor’s share of the net assets of an investee after the acquisition date.

Pre-Acquisition Equity

Refers to the amount of equity held in a company before it is acquired by another entity, often considered in the evaluation of acquisition deals and the consolidation of financial statements.

Direct Non-Controlling Interest

An ownership interest in a company where the shareholder does not have enough shares to control the company directly, but still holds a significant amount of shares.

Post-Acquisition Equity

The equity interest in a subsidiary acquired by a parent company after the initial purchase date, affecting the parent's total equity interest in the subsidiary.