Identify which of the following statements is false.
A) A corporation's first tax year may not cover a full 12- month period.
B) A corporation's fiscal year generally must end on the last day of the month.
C) A fiscal year may not end on December 31.
D) A new corporation can elect a fiscal year that runs from February 16 to February 15 of the following year.
Correct Answer:
Verified
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