If Lindley Requests an Extension to File Her Individual Tax

question 18

Multiple Choice

If Lindley requests an extension to file her individual tax return in a timely manner, the latest she could pay her tax due without penalty is:

• A)April 15 ^th.
• B)October 15 ^th.
• C)August 15 ^th.
• D)November 15 ^th.
• E)None of the choices are correct.

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Definitions:

Partnership Capital

Funds contributed by partners to a partnership for the purpose of financing its operations, shared according to the partnership agreement.

Majority of Partners

The term "majority of partners" refers to more than half of the individuals in a partnership who hold the power to make decisions binding the partnership.

Limited Partner

A partner who may not actively participate in the management of the firm, but has limited liability.

Vancouver Credit Union

A financial cooperative based in Vancouver that offers banking services, such as savings and loans, to its members.