Identify Which of the Following Statements Is False

question 43

Multiple Choice

Identify which of the following statements is false.

• A)An S corporation files a Form 1120S corporate income tax return on or before the 15th day of the fourth month following the close of its tax year.
• B)An S corporation's ordinary income or loss is reported by an individual shareholder on Schedule E of Form 1040.
• C)An S corporation that owes the built-in gains tax or the excess net passive income tax must make quarterly estimated tax payments.
• D)An S corporation cannot use the prior-year tax liability exception when determining the required payment to be made with respect to the built-in gains tax.

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Definitions:

Neurotransmitters

Chemical messengers in the brain that transmit signals across synapses from one neuron to another, influencing mood, behavior, and cognitive functions.

Endorphins

Neurotransmitters that help relieve pain and reduce emotional tension. They are sometimes referred to as the body’s own opioids.

Heroin

An illegal opioid drug derived from morphine, highly addictive and associated with serious health risks and dependency.

Dependence

A reliance on something or someone for support or to function properly.