Which of the Following Is a True Statement About Impermissible

question 87

Multiple Choice

Which of the following is a true statement about impermissible accounting methods?

• A) An impermissible method is adopted by using the method to report results for two consecutive years.
• B) An impermissible method may never be used by a taxpayer.
• C) Cash method accounting is an impermissible method for partnerships and Subchapter S electing corporations.
• D) There is no accounting method that is impermissible.
• E) None of these is true.

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Definitions:

Aldosterone

A hormone produced by the adrenal glands that helps regulate the balance of salt and water in the body.

Cortisol

A steroid hormone produced by the adrenal glands, involved in the body's response to stress, metabolism, and immune system regulation.

Growth Hormone

A peptide hormone that stimulates growth, cell reproduction, and cell regeneration in humans and other animals.

Neurosecretory Cells

Specialized neurons that produce and release hormones into the blood or interstitial fluid, acting at the interface of the nervous and endocrine systems.