In 2012, T Corporation Changed Its Tax Year from Ending

question 59

True/False

In 2012, T Corporation changed its tax year from ending each September 30th to ending each December 31st. The corporation earned $25,000 during the period October 1, 2012 through December 31, 2012. The tax on the annualized income for the short period will be greater than the tax on $25,000 when the tax rates are progressive.

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Definitions:

Disconfirmation

The process in which evidence contradicts or challenges existing beliefs or hypotheses, leading to adjustment or abandonment of those beliefs.

Scientific Method

A systematic process used for investigation and acquiring knowledge through observation, experimentation, and hypothesis testing.

Hypothesis

A proposed explanation for an observation or phenomenon, set forth as a basis for further investigation.

Experiment

A study of causal relationships in which the researcher manipulates an independent variable to examine its effect on a dependent variable.