Identify Which of the Following Statements Is True

question 33

Multiple Choice

Identify which of the following statements is true.

• A)If a partnership asset with a deferred precontribution gain is distributed in a nonliquidating distribution to the partner who contributed the asset, the precontribution gain must be recognized by the partner.
• B)The partner's basis in the partnership interest is normally reduced by the FMV of property distributed in a nonliquidating distribution.
• C)When a current distribution from a partnership reduces the basis of the partnership interest to zero, the partner's interest in the partnership is terminated.
• D)All of the above are false.

---

Definitions:

Sex Stereotyping

The act of assigning roles, behaviors, or attributes to an individual solely based on their gender.

Disruptive Behavior

Repeated actions that interrupt the normal flow of operations or activities, often causing disturbances or problems.

Parent/Child Communication

This refers to the exchange of information, emotions, and ideas between a parent and their child, influencing the child's development and emotional well-being.

Directives

Instructions or orders issued by an authority, guiding the behavior or actions of individuals or organizations.