Jason Purchased a 20 Percent Interest in JKL Partnership for $20,000

question 62

Multiple Choice

Jason purchased a 20 percent interest in JKL Partnership for $20,000 at the beginning of the year.At year-end, the partnership reported net income of $15,000 and distributed $2,000 cash to Jason.What is included in Jason's gross income as a result of his interest in JLK Partnership?

• A)$15,000
• B)$7,000
• C)$5,000
• D)$3,000

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Definitions:

Socially Active

Describes individuals or entities that are highly engaged in social activities or social networks.

Homophily

The tendency of individuals to associate and bond with similar others, including similarities in beliefs, values, and social status.

Surrogate Consumer

An individual who is hired or appointed to make purchase decisions on behalf of another person, often due to the original consumer's lack of time or expertise.

Opinion Leader

An individual who has a significant influence over the attitudes, opinions, or behaviors of others within a specific group or community.