Question
TRUE OR FALSE: - A sole proprietor must use the same tax year for her business as she uses for personal purposes. - An S
TRUE OR FALSE:
- A sole proprietor must use the same tax year for her business as she uses for personal purposes.
- An S corporation may adopt a fiscal year without IRS permission
- A taxable year may be as short as one day or may exceed 360 days
- An estate must adopt a calendar year
- Under no circumstances may a corporation change its fiscal year without advance IRS notice
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Introduction To Management Accounting
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Dave Burgstahler, Jeff O. Schatzberg
16th Global Edition
0273790013, 978-0273790013
