Identify Which of the Following Statements Is False

question 82

Multiple Choice

Identify which of the following statements is false.

• A)A C corporation short-year income tax liability must be determined on an annualized basis.
• B)If the termination of an S election is considered to be inadvertent, then the election is permitted to continue in place as if the termination had never occurred.
• C)If an S election is terminated and the termination is not considered to be inadvertent, a ten-tax-year waiting period is required before making a new election.
• D)A corporation can obtain relief for a late S election if the IRS consents.

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Definitions:

Self-Fulfilling Prophecy

A forecast that, whether directly or indirectly, ensures its own realization through a positive feedback loop between belief and action.

Speculative Inquiry

The process of exploring or investigating theoretical ideas or principles without immediate concern for practical applications.

Intellectual Curiosity

An intrinsic desire to seek out, engage with, and derive pleasure from cognitive and intellectual challenges.

Exclusion Prediction

The process or practice of forecasting the likelihood of individuals or entities being excluded or marginalized within social or economic systems.