Custom unions or a common market does not create a free trade area as compared to NAFTA due to:
A) no common external tariffs.
B) decreased production costs.
C) reduced competition.
D) ease of exporting commodities.
E) creation of a continental demand.
A
Business
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Alpha Partnership is on a fiscal year ending March 31. Partner Alf reports income on the fiscal year ending March 31, and Partner Omega reports income on the fiscal year ending September 30. Both partners have a 50% interest in partnership profits. Assuming the partnership does not make a Sec. 444 election and does not establish a business purpose for a different period, what tax year must the partnership use to file its tax return?
A. March 31. B. Any month end. C. December 31. D. September 30.
Business