What Tax Year-End Must an Unincorporated Entity with Only One

question 67

Multiple Choice

What tax year-end must an unincorporated entity with only one owner adopt?

• A)The entity is free to adopt any tax year-end.
• B)The entity must adopt the same year-end as its owner.
• C)The entity must adopt a calendar year-end.
• D)The entity may adopt any year-end except for a calendar year-end.

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Definitions:

Selye's GAS

A theory proposed by Hans Selye that describes the body's physiological response to stress in three stages: alarm reaction, resistance, and exhaustion.

Prisoner of War

A person who is captured and held by an enemy during conflict or war, typically under international law guidelines.

Agent Orange

A herbicide and defoliant chemical used by the U.S. military during the Vietnam War, known for its environmental damage and health effects on humans.

Fatigue Stage

The third and final stage of the general adaptation syndrome, marked by the body's reduced ability to resist stress and possible development of disease.