If a Partner Contributes Property to a Partnership,and That Property

question 111

True/False

If a partner contributes property to a partnership,and that property is subject to a liability,the noncontributing partners increase the basis of their partnership interests by their share of the partnership liabilities that were transferred to the partnership.

---

Definitions:

Behavior

Describes the actions or reactions of an organism or system, usually in response to stimuli or in the context of the environment or situation.

Group Cohesion

The extent to which members of a group stay together and feel bonded with one another.

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief, behavior, or reasoning.

Group Leader

An individual who takes charge of steering a group's discussions and activities, ensuring goals and objectives are met efficiently.