The Dot Corporation Has Changed Its Year-End from a Calendar

question 62

Multiple Choice

The Dot Corporation has changed its year-end from a calendar year-end to August 31.The income for its short period from January 1 to August 31 is $54,000.The tax for this short period is:

• A)$2,040
• B)$6,250
• C)$8,667
• D)$10,527

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Definitions:

Slaughterhouse Cases

A set of 19th-century Supreme Court cases dealing with the rights of citizens under the Fourteenth Amendment post-Civil War, significant for their interpretations of federal versus state powers.

State Governments

The governing bodies of individual states within a federal system, responsible for local laws, policies, and administration.

Fourteenth Amendment

An amendment to the U.S. Constitution, ratified in 1868, granting citizenship to all persons born or naturalized in the United States and guaranteeing all citizens equal protection of the laws.

Carpetbagger

A derogatory term originally used to describe Northerners who moved to the South after the American Civil War to profit from the Reconstruction.