Abbott (an S Corporation), Bell, Costelk), and Dilbertson form Best Partnership, an equally-shared partnership. Each partner but Abbott has a December 31 tax year-end; Abbott's is June 30. The partners would like to choose a partnership tax year other than one ending December 31, but do not have a valid business purpose for doing so. Which of the following is an acceptable tax year-end they may choose for Best Partnership? I. December 31 II. September 30 III. June 30 a. I and II only c. I, II or III b. I only d. I and III only 2. Lajoie, Bhatti, and Jenkins are going to form LBJ Partnership. The ownership interests and tax years of the partners are as follows: According to Reg. 1. 706-l(b) (3), what Is LBJ Partnership's retjuired tax year-end? Assume no business purpose for a different taxable year. a. January 31 c. December 31 b. July 31 d. June 30 3. Slater Slopes is a newly-formed ski resort partnership with a natural business year ending May 31. The ownership and tax years of hs three partners are as follows: Which of the following is an acceptable year-end for Slater Slopes? Consider both 706 and 444. I. May 31 II. November 30 III. September 30 a. II only c. I only b. I and II only d. I, II and III 4. The cash method of accounting may be used for tax reporting purposes by which of the following taxpayers? a. A partnership with a C Corporation one with annual revenue exceeding $5 million as a partner b. AC Corporatkm with annual revenue of $2. 5 million, which has physical inventory levels that are material in amount c. A farming corporation d. A partnership with a personal service C corporation one with annual revenue beloe $5 million-as a partner