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    Exam 21: Partnerships
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    MNO Partnership Has Three Equal Partners
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MNO Partnership Has Three Equal Partners

Question 229

Question 229

True/False

MNO Partnership has three equal partners. Moon, Inc. and Neptune, Inc. each have fiscal years ending March 31.
Omega uses the calendar year. MNO's required taxable year-end is March 31 under the majority partner rule.

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