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.

---

Definitions:

Neurological Maturation

The process of growth and development of the nervous system, resulting in more sophisticated brain function and capabilities.

Intrusion

An inappropriate or unwanted entry or interference in a situation or personal domain.

Mnemonics

Memory aids, often using patterns of letters, ideas, or associations that facilitate the recall of information.

Reiteration

The act of repeating or restating something for emphasis or clarity, often used in communication or learning processes.