Identify Which of the Following Statements Is False

question 61

Multiple Choice

Identify which of the following statements is false.

• A)A corporation's fiscal year generally must end on the last day of the month.
• B)A fiscal year may not end on December 31.
• C)A new corporation can elect a fiscal year that runs from February 16 to February 15 of the following year.
• D)A corporation's first tax year may not cover a full 12-month period.

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Definitions:

MBI Stock

Likely refers to the stock of a specific company identified by the acronym MBI, requiring specific context to accurately define financial or market attributes.

Call Option

A fiscal arrangement offering the buyer the freedom, yet not the compulsion, to buy various assets like stocks, bonds, or commodities at a fixed price before the expiration of a certain period.

Strike Price

The set price at which an option contract can be bought or sold when it is exercised.

Stock Price

Stock price is the cost of purchasing a share of a company, reflecting the market's valuation of the company at any given time.