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HomeCA IntertaxationIncome-tax Basic Concepts › For a newly set-up business, the first previous …

For a newly set-up business, the first previous year may be a period of ___ twelve months:

Aless than
Balways
Cmore than
Dexactly
Answer & Solution
Correct answer: A. less than
A new business's first previous year may be shorter than 12 months.
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