Crimson Inc. and Coral Inc. form the Two Cs Partnership on January 1 of the...
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Accounting
Crimson Inc. and Coral Inc. form the Two Cs Partnership on January 1 of the current year. They are both 50% partners. Crimson uses a fiscal year with an October 31 year-end. Coral uses the calendar year. Using the least aggregate deferral method, what year should the partnership adopt?
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