Which of the Following Is False in Regards to Filing

question 43

Multiple Choice

Which of the following is false in regards to filing requirements?

• A)Corporations file their tax returns on Form 1120.
• B)An automatic 6-month extension can be obtained by a corporation by filing Form 7004.
• C)Filing Form 7004 provides a 6-month extension for paying the corporation's tax due.A corporation can wait to pay its tax liability without penalty when the return is filed.
• D)None of the above is false.

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Definitions:

Gold Standard

A monetary system where a country's currency has a value directly linked to gold, allowing it to be freely converted into fixed amounts of gold.

International Currency

A currency that is used for international trade and investment, accepted across national borders.

U.S. Dollars

The official currency of the United States, widely used as a standard of exchange in international markets.

Depreciate

A decrease in the value of an asset over time.