Bob, Kara, and Mark Are Partners in the BKM Partnership

question 95

Multiple Choice

Bob, Kara, and Mark are partners in the BKM Partnership. Bob is a 40% partner and has a June 30 tax year-end. Kara owns a 40% interest in the partnership and has a September 30 tax year-end, and Mark owns the remaining 20% interest and has an October 31 tax year-end. The partnership does not have a natural business year. What is the required tax year-end for the partnership (if no Sec. 444 election is made) ?

• A)June 30
• B)September 30
• C)October 31
• D)December 31

---

Definitions:

Self-Report Technique

A method of data collection where participants provide information about themselves, often used in research studies and surveys.

Observation

The process of monitoring or recording the behavior of people, objects or occurrences, usually for the purposes of research or assessment.

Naturalistic Observation

A research method in which subjects are observed in their natural environment without any manipulation by the observer.

Daycare

A service that provides care and supervision to children, typically during daytime hours, allowing parents to work or attend to other commitments.