Which of the Following Assets May Cause a Partner to Recognize

question 83

Multiple Choice

Which of the following assets may cause a partner to recognize ordinary income rather than capital gain on the sale of a partnership interest?

• A) buildings which have been placed in service after 1986
• B) inventory
• C) land
• D) marketable securities

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Definitions:

Robert Owen

Robert Owen was a 19th-century social reformer and one of the founders of utopian socialism and the cooperative movement.

Early 19th Century

The period from 1801 to 1830, a time characterized by significant political, social, and technological changes in many parts of the world.

Hawthorne Experiment

A five-year study conducted at the Western Electric plant in Hawthorne, Illinois, that showed that workers performed better when someone was paying attention to them.

Elton Mayo

A pioneering researcher in organizational theory, particularly known for his work on the Hawthorne Studies, which highlighted the importance of social relations in the workplace.