Indicate whether the following statements are "True" or "False" regarding the annual accounting period concept.

a.	The period selected for final settlement of most tax liabilities is one year.
b.	Referred to as the annual accounting period concept, the effect is to divide each taxpayer's life into equal annual intervals for tax purposes.
c.	The annual accounting period concept has been modified to apply to situations in which taxpayers may have difficulty accurately assessing their tax positions by year end.
d.	The finality of the annual accounting period concept cannot lead to dissimilar tax treatment for taxpayers who are, from a long-range standpoint, in the same economic position.