Extension of nine months, The corporate return is filed on

Extension of nine months

Assignment Help Financial Accounting

Reference no: EM13914303

Which of the following statements is correct regarding the taxation of C corporations?

a. Schedule M-2 is used to reconcile net income as computed for financial accounting purposes with taxable income reported on the corporation's tax return.

b. The corporate return is filed on Form 1120S. Corporations can receive an automatic extension of nine months for filing the corporate return by filing Form 7004 by the due date for the return.

c. A corporation with total assets of $7.5 million or more is required to file Schedule M-3.

d. None of the above.

Reference no: EM13914303

Questions Cloud

Conversion costs : Aussie Yarn Co. is a U.S. producer of woolen yarn made from wool imported from Australia. Raw wool is processed, spun, and finished before being shipped out to knitting and weaving companies. Material is added in the beginning of processing, and conv..

Work in process is relatively large : Kao Tiles, Inc., is a specialized producer of ceramic tiles. Its production process involves highly skilled workers and top-quality ceramiccrafs men. Work in Process is relatively large because each tile is in process for up to three weeks because of..

Total revenue from the sale : If the price of 35 inch HDTVs declines by 20% and the total revenue from the sale of 35 inch HDTVs rises, what can you say about the price elasticity of demand for 35 inch HDTVs? Will this price reduction necessarily lead to an increase in profits fo..

Cross price elasticity of demand : Two goods have a cross price elasticity of demand of +1.2. These goods would be described as.If the price of one good increases by 5%, the demand for the other good, holding everything else the same, would change by.

Extension of nine months : The corporate return is filed on Form 1120S. Corporations can receive an automatic extension of nine months for filing the corporate return by filing Form 7004 by the due date for the return.

Federal reserve board of governors : Complete a one page answer to the following questions. Should the Federal Reserve Board of Governors remain independent? What is the strongest argument on either side?

Avoidable fixed cost of pizzas : Dan loves pizza. His firm, Dan’s Pizza Company, makes frozen pizzas. The market price of a pizza is $15, and Dan is a price taker. His daily cost of making pizzas is C(Q) = 5Q + Q2/80, and his marginal cost is MC = 5 + Q/40.has an avoidable fixed cos..

Capital transactions : BIC was organized on January 2, 2012, with 100,000 authorized shares of $10 par value common stock. During 2012, BIC had the following capital transactions.

Revenues of the store : John manages a dry cleaning store for $30,000 per year, but decides to open his own dry cleaning store. The revenues of the store during the first year of operation are $100,000 and the expenses are $35,000 for salaries, $10,000 for supplies, $8,000 ..

User Account

All Pages