Match Each of the Following Statements with the Terms Below

question 152

Short Answer

Match each of the following statements with the terms below that provide the best definition.
a.Organizational choice of many large accounting firms.
b.Partner's percentage allocation of current operating income.
c.Might affect any two partners' tax liabilities in different ways.
d.Brokerage and registration fees incurred for promoting and marketing partnership interests.
e.Transfer of asset to partnership followed by immediate distribution of cash to partner.
f.Must have at least one general and one limited partner.
g.All partners are jointly and severally liable for entity debts.
h.Theory treating the partner and partnership as separate economic units.
i.Partner's basis in partnership interest after tax-free contribution of asset to partnership.
j.Partnership's basis in asset after tax-free contribution of asset to partnership.
k.Owners are "members."
l.Theory treating the partnership as a collection of taxpayers joined in an agency relationship.
m.Allows many unincorporated entities to select their Federal tax status.
n.No correct match provided.
-Check the box regulations

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Definitions:

Influence Tactic

Strategies or approaches used by individuals to sway or alter others' attitudes, beliefs, or actions toward a desired outcome.

Legitimating

The process of making something acceptable and justifiable by norms, standards, or laws.

Reward Power

Reward power is a form of influence based on the ability to offer rewards or positive incentives in order to motivate or control the behavior of others.

Manager's Control

The power or authority a manager has to direct and regulate the behavior of employees and the operations of an organization.