A partnership may elect to use a fiscal year if the business recognizes 25% or more of its annual gross receipts in the last two months of the fiscal year for three consecutive 12-month periods.
Answer the following statement true (T) or false (F)
True
Generally partnership tax years must match those of the majority partners. Three exceptions are allowed. The receipt of 25% of revenues in the last quarter is one of the exceptions.
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Which sentence is expressed correctly?
A) Do you think I should spend $39.99 for this shirt. B) Do you think I should spend $39.99 for this shirt? C) Do you think I should spend $39,99 for this shirt?
Costs that the manager does not have the power to determine or at least significantly affect are:
A. Variable costs. B. Joint costs. C. Direct costs. D. Uncontrollable costs. E. Indirect costs.
[The following information applies to the questions displayed below.]Madison Company issued an interest-bearing note payable with a face value of $24,000 and a stated interest rate of 8% to Metropolitan Bank on August 1, Year 1. The note carried a one-year term.Based on this information alone, what is the amount of total liabilities appearing on Madison's balance sheet as of December 31, Year 1?
A. $24,800 B. $24,000 C. $25,920 D. $24,720
Which of the following industries is NOT one of the ones in which the United States, Japan, Canada, countries of the European Union, and other industrialized nations agreed to eliminate tariffs completely among themselves:
a. furniture b. medical equipment c. paper d. computers e. all of the other specific choices are industries where the nations agreed to eliminate tariffs