Which of the Following Statements Regarding the Process for Determining

question 74

Multiple Choice

Which of the following statements regarding the process for determining a partnership's tax year-end is true?

• A)Only the partners' profits interests are relevant when determining if a partnership has a majority interest taxable year.
• B)Under the principal partners test,a principal partner is defined as a partner having an interest of 3% or more in the profits or capital of the partnership.
• C)The least aggregate deferral test utilizes the partners' capital interests to measure the amount of aggregate deferral.
• D)A partnership is required to use a calendar year-end if it has a corporate partner.
• E)None of the choices are true.

---

Definitions:

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Airline

A business that offers services for flying passengers and cargo through the air.

Student Guesses

Refers to attempts made by students to answer questions without being certain of the correct answers, often used in the context of exams or quizzes.

Probability

A numerical expression between 0 and 1 that indicates how probable an event is to take place.