Which of the following statements is incorrect?

A) A corporation can choose the fiscal year-end of its choice when it files its first tax return without approval of the IRS.
B) A corporation with average annual gross receipts of $10 million must use the accrual basis of accounting.
C) A calendar year corporation must file its tax return no later than March 15 of the following year.
D) C corporations must annually file a Form 1120 tax return.

Forecasting tools that assess human capital requirements based on historical measures such as sales levels are inherently more focused on human capital flows.

The eliminating of an unprofitable product line may actually decrease total company net income.

Human capital must be obtained from current employees and/or or individuals currently employed by other organizations.

Which of the following is a variation of job enlargement?

A) Job rotation
B) Departmentalization
C) Work simplification
D) Scientific management

In a period of rising purchase costs,LIFO usually gives a lower taxable income and therefore,yields a tax advantage.