Sophie Received a 30 Percent Interest in a General Partnership

question 15

Multiple Choice

Sophie received a 30 percent interest in a general partnership in exchange for property valued at $35,000 (adjusted basis = $25,000) and services valued at $5,000.In addition,the partnership assumed a $10,000 liability on the property.What is Sophie's basis in her partnership interest?

• A)$20,000
• B)$23,000
• C)$25,000
• D)$39,000
• E)None of the above

---

Definitions:

Case Studies

In-depth analyses of a single event, situation, or individual to explore causality and find underlying principles.

Evidence-Based Foundations

The basis of knowledge, practices, or policies that are grounded in empirical research and data analysis.

Organizational Climate

The collective perceptions and attitudes of employees about their work environment, which can influence motivation, job satisfaction, and performance.

Financial Capital

Resources in the form of money or other assets owned by a person or organization that are available for investment or spending.