Which of the following is a true statement about a request for a change in accounting method?
A. Form 3115 is typically required to be filed with a request for change in accounting method.
B. Some requests are automatically granted.
C. Many requests require payment of a fee and a good business purpose for the change.
D. Most requests require the permission of the commissioner.
E. All of the choices are true.
Answer: E
You might also like to view...
The theory of comparative advantage states that an individual nation should concentrate on exporting the goods that it can produce most efficiently
Indicate whether the statement is true or false
Paid-in capital consists of ________.
A. Amounts received from customers B. Amounts received from stockholders in exchange for stock C. Earnings generated by the corporation D. Amounts raised by issuing bonds or preferred stocks
Allen is a college graduate, whereas his friend Glen has only completed high school. As a college graduate, Allen will most likely:
A. earn more during his lifetime than his friend. B. have less median weekly earnings than his friend. C. have a higher income but less job security than his friend. D. be disinterested in internships.
The free cash flow valuation model is based on the same principle as the P/E valuation approach; that is, the value of a share of stock is the present value of future cash flows
Indicate whether the statement is true or false