Which of the Following Statements Is Incorrect

question 18

Multiple Choice

Which of the following statements is incorrect?

• A) A corporation can choose a fiscal year-end of its choice when filing its first tax return.
• B) A corporate tax return is due 2½ months after the end of the fiscal year.
• C) Corporations that own foreign subsidiaries cannot file a Form 1120.
• D)Some corporations can use the cash-basis of accounting.

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Definitions:

Leading Questions

Questions phrased in a way that suggests a particular answer or influences the response of the person being asked.

Car Collisions

Incidents where two or more vehicles crash into each other.

Speed Estimates

Judgments about how fast an object or individual is moving, often relevant in eyewitness testimony and perception studies.

Autobiographical Memories

Memories of one's own life events, which are a complex blend of factual, emotional, and interpretive elements.