Identify Which of the Following Statements Is False

question 23

Multiple Choice

Identify which of the following statements is false.

• A) A corporation must file a tax return annually.
• B) A corporation can obtain an automatic six-month extension of time to file its tax return.
• C) The IRS will permit an extension of time to file a corporate return beyond the original due date only when the corporation's delay is reasonable.
• D) The IRS can rescind the extension period.

Explain the UCC's treatment of good faith purchasers.

Understand the impact of breaches in sales contracts on risk of loss.

Identify the UCC rules governing the sale and identification of goods.

Differentiate between existing, future, and fungible goods under the UCC.

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Definitions:

Vaccinating

The act of administering a vaccine to help the immune system develop protection from a disease.

Marginal Benefit

The enhancement in satisfaction or utility achieved by consuming an additional unit of a product or service.

Consumption

The use of goods and services by households, referring to the final purchase of products for direct use or ownership.

Externalities

Costs or benefits that affect parties who did not choose to incur that cost or benefit.