In the Case of a Partnership Whose Partners All Use

question 29

Multiple Choice

In the case of a partnership whose partners all use a calendar year,a reason that is acceptable to the IRS for using a tax year ending June 30th would be:

• A)The accountant is already overburdened with calendar year tax returns and could not timely file the partnership's return.
• B)A December 31st inventory would be required if a calendar year was used,and the employees do not want to work on New Year's Eve.
• C)The company's income does not fluctuate a great deal from year to year.
• D)The business has a natural business year that ends June 30th.
• E)None of the above.

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Definitions:

Simple Random Sample

A sampling method where each member of a population has an equal chance of being selected, ensuring the sample's representativeness of the population.

Equal Chance

The concept that every outcome of a particular experiment or event has the same probability of occurring.

Target Population

The entire group about which a researcher intends to generalize the findings from a study.

Sampled Population

The sampled population refers to the subset of a population that is selected for analysis in a study, representative of the larger group to derive conclusions about it.