An S Corporation May Not Amortize Its Organization Expenses

question 144

True/False

An S corporation may not amortize its organization expenses.

---

Definitions:

Locke

John Locke was a 17th-century English philosopher known for his theory of mind, which is often cited as the origin of modern conceptions of identity and the self, emphasizing experience's role in shaping human understanding.

Gibson

Refers to James Gibson, a psychologist known for his work in visual perception and the theory of affordances which suggests that the environment offers opportunities for action.

Sensory Restriction

A method that involves limiting sensory input to the brain, which can lead to altered states of consciousness or relaxation.

Functional Blindness

A psychological condition where an individual's sight is not impaired by any observable physical eye defect, yet they are unable to see, often due to emotional or psychological reasons.