A budget that adds a new month at the end of the budget when a month is completed, resulting in a budget that is always one year in advance is a:

Soft law refers to the voluntarily adopted guidelines for corporate behavior derived from emerging norms and standards in international codes, declarations, and conventions.

a. true b. false

Maggie and Simon each have a 50% interest in a partnership that started business October 1. Maggie uses a calendar year while Simon has a fiscal year ending November 30. Which of the following is true?

A. The partnership may use the calendar year. B. The partnership may use the fiscal year ending September 30 provided a Sec. 444 election and payment are made. C. The partnership may use the fiscal year ending September 30 provided a Sec. 444 election and payment are made, and the partnership may use the fiscal year ending November 30 as that results in the least deferral. D. The partnership may use the fiscal year ending November 30 as that results in the least deferral.