In What Order Should the Tests to Determine a Partnership's

question 117

Multiple Choice

In what order should the tests to determine a partnership's year-end be applied?

• A)Majority interest taxable year; least aggregate deferral; principal partners test
• B)Principal partners test; majority interest taxable year; least aggregate deferral
• C)Principal partners test; least aggregate deferral; majority interest taxable year
• D)Majority interest taxable year; principal partners test; least aggregate deferral
• E)None of the choices are correct.

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Definitions:

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Part of the Compromise of 1850, this law required citizens to assist in the capture of runaway slaves and denied fugitives the right to a jury trial.

Northwest Ordinance

A law passed in 1787 by the Congress of the Confederation of the United States to create a structured process for territories in the Northwest to become states.

Missouri Compromise

A legislative agreement passed in 1820 between the pro-slavery and anti-slavery factions in the United States Congress, involving primarily the regulation of slavery in the western territories.

Dred Scott Case

A landmark Supreme Court case in 1857 that held African Americans, whether enslaved or free, could not be American citizens and therefore had no standing to sue in federal court.