XYZ Partnership is owned by three equal partners: X, Y, and Z. Each partner uses a tax year that ends on April 30. Which of the following statements is true regarding XYZs tax year?

Group of answer choices

Like other taxpayers, XYZ is free to choose any tax year.

XYZ has a required tax year which ends on April 30.

As a partnership, XYZ is required to adopt the calendar year.

XYZ is free to change its tax year to any other year as often as they wish.