Identify Which of the Following Statements Is False

question 36

Multiple Choice

Identify which of the following statements is false.

• A)A sale or exchange of at least 50% of the capital and profits interest in a partnership within a 12- consecutive-month period will terminate the partnership and end all of the partnership's elections.
• B)When using the 50% rule to terminate a partnership, if an interest is sold more than once during the 12-month period, each sale is counted separately.
• C)A partner's individual income tax return, under some circumstances, may include the results of partnership operations for a period exceeding 12-months.
• D)When several different transfers are made during a 12-month period, the partnership termination occurs on the date of the transfer that first crosses the 50% threshold.

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Definitions:

Admission Decision

The process by which a school or institution decides whether an applicant meets the criteria for entry.

Forecast Accuracy

The measure of how close the forecasted values are to the actual values.

Actual Weather

The real-time atmospheric conditions observed in a specific location.

Rain

Precipitation in the form of water droplets that falls from clouds in the sky.