On July 1,Joseph,a 10% Owner,sells His Interest in ABC Partnership

question 36

Multiple Choice

On July 1,Joseph,a 10% owner,sells his interest in ABC Partnership to Andy,an outsider,for $165,000 cash and the release from $20,000 of partnership liabilities.Joseph's partnership interest at the beginning of the year was $120,000.The partnership earned income through June 30 of $100,000.Joseph's share of partnership liabilities increased by $5,000 from January 1 to June 30.What are the tax consequences to Joseph on the sale of his partnership interest (assume the partnership does not hold any inventory or unrealized receivables) ?

• A)$45,000 capital gain
• B)$50,000 capital gain
• C)$55,000 capital gain
• D)$65,000 capital gain

Understand the concept and effectiveness of restorative justice as an approach within the criminal justice system.

Understand the impact of external stressors on relationships and how they vary between acute and chronic stressors.

Recognize how social support functions as a resource for coping with stress in relationships.

Analyze the physiological and psychological responses to stress.

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Clean Water Act

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