Which of the Following Statements Is Incorrect

question 60

Multiple Choice

Which of the following statements is incorrect?

• A) A corporation can choose the fiscal year-end of its choice when it files its first tax return without approval of the IRS.
• B) A corporation with average annual gross receipts of $10 million must use the accrual basis of accounting.
• C) A calendar year corporation must file its tax return no later than April 15 of the following year.
• D)C corporations must annually file a Form 1120 tax return.

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Definitions:

Emotional Regulation

The process of managing and responding to one's emotions in a healthy and adaptive way.

Stress

A condition where there's mental or emotional pressure due to challenging or negative situations.

Beneficial

Producing good or helpful results; advantageous.

Role Conflict

A situation where an individual faces incompatible demands or expectations from different roles they are required to fulfill.