All of the Following Statements Are True with Regard to the Formation

question 31

Multiple Choice

All of the following statements are true with regard to the formation of a partnership except

• A)the partnership's basis in the transferred property carries over from the transferor partners.
• B)with regard to capital assets and 1231 assets,the partnership's holding period for the transferred property includes the contributing partner's holding period.
• C)the nonrecognition rules apply to both property and services contributed to a partnership.
• D)a transfer of property in exchange for a partnership interest causes nonrecognition of gain or loss treatment.

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Definitions:

Regression

A statistical method used for estimating the relationships among variables.

Adult

An individual who has achieved full physical and psychological maturity.

Defence Mechanism

Psychological tactics employed subconsciously by different entities to deal with real-world scenarios and preserve their self-perception.

Regression

In psychology, a defense mechanism leading individuals to revert to a less mature state of psychological development under stress or as an analytical process involving fitting a model to data.