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April and Sue each own 30% of SuZQ partnership. They both sold their entire interest to Karen on July 15. Karen was not a partner
April and Sue each own 30% of SuZQ partnership. They both sold their entire interest to Karen on July 15. Karen was not a partner of SuZQ at the time of the sale. Which statement is correct regarding this transaction? Question 2Select one: a. The partnership is required to file a short-period return. b. The partnership is terminated on July 15 because 60% or more of the partnership capital changed hands. c. The partnership is terminated on July 15 because 50% or more of the partnership capital changed hands. d. The partnership is not terminated as a result of this transaction
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