Which of the Following Statements Regarding a 52-53 Week Tax

question 35

Multiple Choice

Which of the following statements regarding a 52-53 week tax year is correct?

• A) The year-end must be the same day of the week in all years.
• B) The year cannot contain more than 366 calendar days.
• C) Every four years, there will be only 51 weeks.
• D) The year cannot end on a Sunday.
• E) None of the above.

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Definitions:

Marginal Utility

The additional satisfaction or utility received from consuming one more unit of a good or service.

Demand Schedule

A demand schedule is a table that lists the quantity of a good that consumers are willing to purchase at various prices.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.

Marginal Utility

The additional satisfaction or utility that a consumer receives from consuming an additional unit of a good or service.