Which of the Following Is False in Regards to Filing

question 29

Multiple Choice

Which of the following is false in regards to filing requirements?

• A)Corporations file their tax returns on Form 1120.
• B)A 6-month extension can be obtained by a corporation (other than a corporation with a tax year ending on June 30) that files Form 1120.
• C)Filing an extension for a corporate tax return also provides an extension for paying the corporation's tax due.A corporation can wait to pay its tax liability without penalty when the return is filed.
• D)None of the above is false.

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Definitions:

Production Possibility Frontier

A schematic that reveals all potential highest productions for two different products, given a predefined set of resources and various factors.

Larger Oven

A reference to an increased capacity or size of an oven which can potentially enhance productivity or efficiency in cooking or baking.

Gain

An increase in wealth, resources, or value, often realized through investments, business operations, or other financial activities.

Loss

A situation in which expenses exceed revenues, leading to a negative financial outcome for a business or individual.