What Is the Rationale for the Specific Rules Partnerships Must

question 71

Multiple Choice

What is the rationale for the specific rules partnerships must follow in determining a partnership's taxable year-end?

• A)To increase the amount of aggregate tax deferral partners receive
• B)To minimize the amount of aggregate tax deferral partners receive
• C)To align the year-end of the partnership with the year-end of a majority of the partners
• D)To spread the workload of tax practitioners more evenly over the year
• E)Both to minimize the amount of aggregate tax deferral partners receive and to align the year-end of the partnership with the year-end of a majority of the partners

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Definitions:

Deciduous Teeth

Also known as baby or milk teeth, these are the first set of teeth in human development, which are eventually replaced by permanent teeth.

Hepatic Portal Vein

A blood vein that carries nutrients from the gastrointestinal tract and spleen to the liver for processing.

Capillaries

The smallest blood vessels in the body's circulatory system, where the exchange of water, oxygen, carbon dioxide, and many other nutrients and waste substances between blood and tissues occurs.

Hepatic Artery

The artery that supplies oxygenated blood to the liver from the heart.