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Title: Identify which of the following statements is true. Post by: Mandarini on Feb 15, 2017 Identify which of the following statements is true.
A) The natural business year for fiscal-year election purposes is any tax year that ends within six months after the peak period of business. B) Section 444 permits an S corporation to elect to use a fiscal year other than a permitted year. C) A new corporation that is 100% owned by Johnny Blake, a cash method of accounting taxpayer, makes an S election for its initial tax year. The S corporation must also elect to use the cash method of accounting as its overall accounting method. D) All of the above are false. Title: Re: Identify which of the following statements is true. Post by: genflynn on Feb 15, 2017 Content hidden
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