Dogg Corporation,Katt Corporation,and Rabitt Corporation are equal partners in Critter Partnership.The partner's fiscal year ends follow: 
Which of the following statements is (are) correct?
I.Critter Partnership may elect to use any of the three dates that the partners use.
II.Critter Partnership must use the tax year of the partner that creates the least amount of deferral.
Definitions:
Equality
The situation where individuals have the same rights, opportunities, and status.
Society's Resources
The total available assets, both natural and man-made, that are available for use by a society.
Marginal Benefit
The supplementary pleasure or utility a consumer experiences when an additional unit of a good or service is consumed.
Marginal Cost
The financial commitment needed to produce an additional unit of a product or service.
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