Which of the Following Statements Is Not Correct

question 15

Multiple Choice

Which of the following statements is not correct?

• A) Corporations must estimate and prepay their income taxes through quarterly tax deposits.
• B) At the end of the year, when the worksheet is prepared, the Income Tax Expense account is adjusted only if the corporation owes additional taxes.
• C) Income Tax Expense may be shown as an operating expense on a corporation's income statement.
• D) On a corporate income statement, the tax effects of each extraordinary item is offset against each gain or loss to show the effect 'net of taxes.'

---

Definitions:

Hard Work

The exertion of significant effort or endurance, typically resulting in achievement or success.

Text Messages

Short digital messages sent over cellular networks or the internet, typically consisting of text but can include multimedia.

Miscommunication

The failure to convey or understand information accurately, leading to misunderstandings and potential conflicts.

Communication Styles

Distinct manners and techniques that individuals use to exchange information, ideas, and feelings with others, including verbal, non-verbal, and visual methods.