Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) When the interest of a partner who owns 60% of a partnership is completely liquidated by a partnership distribution, the partnership is considered terminated, even though three other partners remain.
B) The partnership tax year closes when a partner transfers his interest by gift.
C) If a partner dies in a two- member partnership, the partnership terminates on the date of death, even though the successor- in- interest continues to share in the profits and losses of the partnership business.
D) All of the above are false.