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28 March, 18:10

In what order should the tests to determine a partnership's year end be applied? A. majority interest taxable year - least aggregate deferral - principal partners test. B. principal partners test - majority interest taxable year - least aggregate deferral. C. principal partners test - least aggregate deferral - majority interest taxable year. D. majority interest taxable year - principal partners test - least aggregate deferral. E. None of these.

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  1. 28 March, 21:37
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    D

    Explanation:

    The correct order is majority interest taxable year - principal partners test - least aggregate deferral.

    A partnership has to consider 3 tests in the orders 1, 2 and 3, in determining it's appropriate year end.

    1. majority interest taxable year

    2. principal partners test

    3. least aggregate deferral
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