Choose the Incorrect Statement

Multiple Choice

Choose the incorrect statement.

A) Books and records may be kept on a different year-end basis than the year-end used for tax purposes.
B) The choice to file on a fiscal year-end basis must be made with an initial tax return.
C) Almost all individuals file tax returns using a calendar year accounting period.
D) An individual may request IRS approval to change to a fiscal year-end basis if certain conditions are met.