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Joshua is a 40% partner in the XY Partnership when he sells his entire interest to Stanley for $60,000 cash. At the time of the sale, Joshua's basis is $36,000, which includes his $10,000 share of partnership liabilities. The partnership has no Sec. 751 assets. Calculate Joshua's gain or loss on the sale.
Social Learning
The process of acquiring new behaviors and knowledge by observing and imitating others.
Modeling
The process of learning through the observation of others' behaviors, attitudes, or emotional expressions.
Cognitive Moral Development
Cognitive Moral Development is a theory in psychology that explains how people evolve in their understanding and application of moral principles as they grow.
Social Constraints
The societal or organizational limits that affect an individual's behavior or actions.
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