Identify Which of the Following Statements Is True

question 102

Multiple Choice

Identify which of the following statements is true.

• A) A corporate tax return must be filed by the fifteenth day of the fourth month following the close of the corporation's tax year.
• B) A corporation is required to file a tax return even if it has no taxable income.
• C) A corporation with gross receipts, total income, and total assets of $1,000,000 or less is permitted to file Form 1120-A.
• D) All of the above are false.

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Definitions:

Algorithm

A step-by-step procedure or formula for solving a problem or completing a task, often used in computing and mathematics.

Optimal Solution

The most efficient and effective answer to a problem, maximizing benefits while minimizing costs and drawbacks.

Confirmation Bias

A cognitive bias that involves favoring information that confirms pre-existing beliefs or ideas.

Nonconscious Processes

Mental processes that occur outside of conscious awareness.