Match the Following Independent Distribution Payments in Liquidation of a Partner's

question 95

Multiple Choice

Match the following independent distribution payments in liquidation of a partner's interest in an ongoing partnership with the statements below.
-Distribution of cash of $10,000 to a limited partner for goodwill, where goodwill is not provided for in the partnership agreement.

• A)A payment for the partner's share of partnership income under § 736(a).
• B)A payment for the partner's share of partnership property under § 736(b).
• C)The payment includes both a § 736(a) and a § 736(b) element.

---

Definitions:

Atkinson-Shiffrin Model

A theory of human memory that proposes memory is processed through three systems: sensory memory, short-term memory, and long-term memory.

Memory

The mental capacity to store, retain, and recall information and experiences from the past.

Working Memory System

A mental system that has a restricted ability and is in charge of briefly maintaining information ready for processing.

Short-Term Memory

The aptitude for storing a minimal amount of details in a directly accessible and active mode for a limited time span.