Which of the following is a true statement about a request for a change in accounting method?
A)Some requests are automatically granted.
B)Most requests require the permission of the commissioner.
C)Many requests require payment of a fee and a good business purpose for the change.
D)Form 3115 is typically required to be filed with a request for change in accounting method.
E)All of the choices are true.

Question

Quizplus · Accepted Answer

All the statements provided are true regarding a request for a change in accounting method. Some requests are automatically granted under specific conditions, most require the commissioner's permission, many necessitate a fee and a valid business reason, and Form 3115 is generally required for filing such a request.

Which of the Following Is a True Statement About a Request