1.Corporate are legal entities formed under the Internal Revenues Services Code.

True

False

2.Corporations can use the accrual basis of accounting if marginal gross receipts over the prior 3 years.

True

False

3.Corporate net operating profit from 2017 can be carried back 10 years and forward 20 years.

True

False

4.Organizational expenses are automatically deductible over 200 months.

True

False

5.Corporation record all assets and capitals at Market Fair Value and record gains and loss.

True

False