Once a USCorporation Chooses a Method to Allocate Interest Expense,either Fair Market

question 51

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.

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Definitions:

Origin And Meaning

The source or beginning of something and the significance it carries or represents.

Worldview Defense

The tendency to derogate those who violate important cultural ideals and to venerate those who uphold them.

Cultural Ideals

The shared beliefs, values, or norms that represent the most desirable characteristics or behaviors in a culture.

Low In Self-Esteem

Characterizes individuals who have a diminished sense of personal worth or value themselves negatively.