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Gold Corporation,Silver Corporation,and Copper Corporation Are Equal Partners in the GSC

Question 38

Multiple Choice

Gold Corporation,Silver Corporation,and Copper Corporation are equal partners in the GSC Partnership.The partners' tax year-ends are as follows:
Gold
December 31st
Silver
April 30th
Copper
September 30th


A) The partnership is free to elect any tax year.
B) The partnership may use any of the 3 year-end dates that its partners use.
C) The partnership must use a September 30th year-end.
D) The partnership must use a April 30th year-end.
E) None of the above.

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