For an S Corporation to Elect to Use a Fiscal

question 81

Multiple Choice

For an S corporation to elect to use a fiscal year other than a permitted year, the fiscal year elected must have a maximum deferral period of

• A)one month.
• B)two months.
• C)three months.
• D)six months.

---

Definitions:

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold.

Kinked

Often relating to the kinked-demand curve seen in oligopolistic markets, where firms face a price elasticity that abruptly changes as prices increase or decrease.

Oligopolist

A seller in an oligopoly market, a market structure characterized by a small number of firms dominating the market.

Payoff Matrix

A table showing the potential outcomes or payoffs from different decisions or strategies in game theory.