What Tax Year-End Must Unincorporated Entities with Only One Owner

question 64

Multiple Choice

What tax year-end must unincorporated entities with only one owner adopt?

• A) The entity is free to adopt any tax year-end
• B) The entity must adopt the same year-end as its owner
• C) The entity must adopt a calendar year-end
• D)The entity may adopt any year-end except for a calendar year-end

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by summing them and dividing by the number of numbers.

Area

A quantity expressing the two-dimensional size or extent of a shape or surface, typically measured in square units.

Variance

A measure of dispersion in a set of data points, calculated by taking the average of the squared differences from the mean.

Standard Deviation

A statistic that quantifies the dispersion or variability of a dataset, measuring the average distance between each data point and the mean.