Priya Is a Partner in a Partnership

question 994

Multiple Choice

Priya is a partner in a partnership. The partnership has incurred a loss for the year. Priya's ability to recognize the loss will be tested in the following order:

• A) (1) excess business loss limitations, (2) basis limitations, (3) passive loss limitations.
• B) (1) passive loss limitations, (2) basis limitations, (3) excess business loss limitations.
• C) (1) basis limitations, (2) excess business loss limitations, (3) passive loss limitations.
• D) (1) basis limitations, (2) passive loss limitations, (3) excess business loss limitations.

---

Definitions:

Photorespiration

A metabolic pathway in plants that consumes oxygen, releases carbon dioxide, generates no ATP, and decreases photosynthetic output; it occurs when oxygen levels are high and carbon dioxide levels are low.

RuBP

Ribulose bisphosphate, a sugar involved in the initial step of carbon fixation in the process of photosynthesis.

Oxygen

A reactive, life-sustaining component of the atmosphere, essential for cellular respiration in aerobic organisms and critical for combustion processes.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is absorbed by plants in photosynthesis.