Identify Which of the Following Statements Is True

question 15

Multiple Choice

Identify which of the following statements is true.

• A) Unrealized receivables include rights to payments on the sale of a capital asset.
• B) The primary purpose of Sec. 751 is to prevent partnerships from converting capital gains into ordinary income.
• C) If a partner sells property received in a partnership distribution for a gain and the property was inventory in the hands of the distributing partnership, the partner will always recognize ordinary income.
• D) All of the above are false.

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Definitions:

REM Sleep

A stage of sleep characterized by rapid eye movements, more dreaming and bodily movement, and faster pulse and breathing.

Memories

The mental storage of information, experiences, and learned skills.

Tensions

The state of being stretched tight, often used metaphorically to describe a state of mental or emotional strain.

Cortisol Levels

The concentration of cortisol, a stress hormone, in the blood, which can affect various body functions.