Which of the Following Statements Concerning Extensions of Time to File

question 89

Multiple Choice

Which of the following statements concerning extensions of time to file an individual tax return is true?

• A) The extension of time to file does not extend the time for payment of tax.
• B) The extension of time to file is for four months.
• C) An individual who requests an extension of time to file must provide the IRS with a reasonable explanation.
• D) The IRS may deny an extension request if the taxpayer fails to provide a reasonable explanation.

Interpret the financial implications of costing choices on business profitability.

Understand the concept and differences between absorption costing and variable costing.

Calculate unit product costs under both absorption costing and variable costing.

Determine the net operating income (loss) under both absorption costing and variable costing.

---

Definitions:

Protective Mechanisms

Psychological strategies employed by individuals to defend against feelings of anxiety or threats to self-esteem, synonymous with defense mechanisms.

Basic Anxiety

A term in psychoanalysis describing feelings of insecurity and inadequacy arising from interpersonal relationships.

Child Security

The sense of safety, stability, and protection that a child feels, which is crucial for their emotional and psychological development.

Excessively Dependent

Describes an individual's over-reliance on others for emotional support, decision making, and validation, often to the point of having difficulty functioning independently.