Once a US Corporation Chooses a Method to Allocate Interest Expense, Either

question 75

True/False

Once a U.S. corporation chooses a method to allocate interest expense, either fair market value or tax book value, that election cannot be changed without the permission of the commissioner of the Internal Revenue Service.
A taxpayer can switch from the tax book value method to the fair market value method without permission of the commissioner of the Internal Revenue Service.

---

Definitions:

Superior Articular Facet

Superior Articular Facet pertains to the upper joint surface of a vertebra that articulates with the inferior articular facet of the vertebra directly above it, contributing to spinal stability and movement.

Median Sacral Crest

A ridge or series of bumps along the back surface of the sacrum, forming the fused spinous processes of the sacral vertebrae.

Posterior Sacral Foramina

Openings in the sacrum bone that allow nerves and blood vessels to pass through.

Coccyx

A small, triangular bone at the base of the spinal column in humans, composed of fused vestigial vertebrae.