Which of the Following Statements Regarding a Partnership's Tax Year

question 24

Multiple Choice

Which of the following statements regarding a partnership's tax year is/are correct?
I.A partnership formed on July 1 must adopt a tax year ending on June 30.
II.A valid business purpose can no longer be claimed as a reason for adoption of a tax year other than the generally required tax year.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

Understand the significance and nature of transitional periods during changes.

Learn the steps and strategies involved in managing workplace change.

Understand the techniques and tools used by OD change agents.

Comprehend various approaches and stages in coping with change at both organizational and personal levels.