Identify Which of the Following Statements Is True

question 12

Multiple Choice

Identify which of the following statements is true.

• A)The natural business year for fiscal-year election purposes is any tax year that ends within six months after the peak period of business.
• B)Section 444 permits an S corporation to elect to use a fiscal year other than a permitted year.
• C)A new corporation that is 100% owned by Johnny Blake, a cash method of accounting taxpayer, makes an S election for its initial tax year. The S corporation must also elect to use the cash method of accounting as its overall accounting method.
• D)All of the above are false.

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Definitions:

Password Reset Disk

A storage device, typically a USB flash drive, created to reset the password of a user account in Windows in case the password is forgotten.

Account Recovery Options

Methods and tools provided by an online service that allow a user to regain access to their account if they forget their password or their account becomes compromised.

Windows Installation Disk

A physical or digital medium containing the installation files necessary to install the Windows operating system on a computer.

Disk Management

A utility in Windows that enables users to perform advanced storage tasks like initializing new drives, extending volumes, and formatting disks.