Identify Which of the Following Statements Is True

question 57

Multiple Choice

Identify which of the following statements is true.

• A)A contribution of services for a partnership interest is a tax-free transaction.
• B)For federal income tax purposes, formation of a partnership is governed by Sec. 721.
• C)When a partnership assumes a liability on property contributed by a partner, the only effect on the contributing partner's basis in his or her partnership interest is that his or her basis will be increased by the amount of the liability assumed by the other partners.
• D)All of the above are false.

Comprehend the general principles underlying learning across different species.

Understand the adaptive significance and benefits of habituation.

Explain the basic procedure that produces classical conditioning.

Understand the concept of budget constraints and how changes in income and prices affect consumer choices.

---

Definitions:

Sacral

Pertaining to the sacrum, a large, triangular bone at the base of the spine that forms the back wall of the pelvis.

Synovial

Pertaining to or secreting synovia, a lubricating fluid found in the cavities of synovial joints, facilitating smooth movement.

Cartilaginous

Relating to, or made of cartilage, a flexible connective tissue found in various parts of the body.

Synergistic

Working together of two or more substances, organs, or organisms to achieve an effect greater than the sum of their individual effects.