Choose the Incorrect Statement

question 45

Multiple Choice

Choose the incorrect statement.

• A)Books and records may be kept on a different year-end basis than the year-end used for tax purposes.
• B)The choice to file on a fiscal year-end basis must be made with an initial tax return.
• C)Almost all individuals file tax returns using a calendar year accounting period.
• D)An individual may request IRS approval to change to a fiscal year-end basis if certain conditions are met.

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Definitions:

Belongingness

The human emotional need to be an accepted member of a group, whether it is family, friends, colleagues, or within a community.

Esteem

The respect, admiration, and confidence an individual has in themselves; a fundamental human need for feeling valued and validated.

Safety

The state of being safeguarded against or not prone to causing harm, peril, or damage.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.