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Mark contributed property to the MDB Partnership in 2012. At the time of the contribution, the basis in the property was $40,000 and its value was $50,000. In 2016, MDB distributed that property to partner Dara. Because this is a distribution of precontribution gain property, MBD (the partnership) may be required to recognize a gain that is allocated to all of the partners.
Power Distance
A cultural dimension that describes the extent to which individuals in a society accept or expect power inequalities between people.
Authority
The right to influence another person.
Formality
The level of adherence to established rules, procedures, and conventions in a particular context.
Transnational Organization
An organization in which the global viewpoint supersedes national issues.
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