Which of the following circumstances will not cause a partnership to close its tax year early? a.

Question:

Which of the following circumstances will not cause a partnership to close its tax year early?

a. The partnership terminates by agreement of the partners.

b. The business activity of the partnership permanently ceases.

c. All the partners decide to retire, permanently close their stores and stop conducting business.

d. A new partner enters the partnership.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...

Fantastic news! We've Found the answer you've been seeking!