Taxation, 2011 Bar — Question 23

MULTIPLE CHOICE

A corporation may change its taxable year to calendar or fiscal year in filing its annual income tax return, provided (A) it seeks prior BIR approval of its proposed change in accounting period. (B) it simultaneously seeks BIR approval of its new accounting period. (C) it should change its accounting period two years prior to changing its taxable year. (D) its constitution and by-laws authorizes the change.

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