Which of the following is not a derivative instrument?

Which one of the following statements regarding a partnership's tax year is true?

A. A partnership formed on July 1 is required to adopt a tax year ending on June 30. B. Within 30 days after a partnership has established a tax year, a form must be filed with the IRS as notification of the tax year adopted. C. A partnership may elect to have a tax year other than the generally required tax year if the deferral period for the tax year elected does not exceed 3 months. D. A "valid business purpose" can no longer be claimed as a reason for adoption of a tax year other than the generally required tax year.

An organizational strategy is a detailed plan for how a business is going to accomplish its mission, what its goals should be, and what plans and policies it will need to accomplish these goals

Indicate whether the statement is true or false