Test:CPA Regulation (REG)

1.

In the absence of an election to adopt an annual accounting period, the required tax year for a partnership is:

A tax year of one or more partners with a more than 50% interest in profits and capital

A tax year of a principal partner having a 10% or greater interest

A tax year that results in the greatest aggregate deferral of income

A calendar year

1/8 questions

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