For an S Corporation to Elect to Use a Fiscal

question 81

Multiple Choice

For an S corporation to elect to use a fiscal year other than a permitted year, the fiscal year elected must have a maximum deferral period of

• A)one month.
• B)two months.
• C)three months.
• D)six months.

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Definitions:

Upward Comparison

A comparison of oneself with those who are better off.

Abstract

A brief summary of a research paper, article, thesis, or any in-depth analysis, outlining the key points and findings.

Concrete

Refers to objects or concepts that are tangible and can be perceived directly through the senses, as opposed to abstract ideas which are theoretical and not physically existent.

Reflected Appraisals

What we think other people think about us.