Which of the Following Statements Is True When Property Is

question 94

Multiple Choice

Which of the following statements is true when property is contributed in exchange for a partnership interest?

• A) The partnership's inside basis is typically increased by any gain the partner recognizes from the property contribution.
• B) Any contributed property in a partnership has a carryover basis, and the character of the property is determined by the way the contributing partner used the property.
• C) The holding period for a partner's partnership interest depends upon the type of assets a partner contributes.
• D) Services are not allowed to be contributed to a partnership in return for a partnership interest.
• E) All of the choices are true.

---

Definitions:

Presence Of An Audience

The impact or change in behavior that occurs when actions or communications are conducted in view of others, potentially affecting the dynamics and outcomes.

Constituents

Individuals or groups represented by a negotiator, whose interests are affected by the negotiation outcome.

Revealing Authority

The act of disclosing or making known the power or right to give orders, make decisions, and enforce obedience.

Autonomy

The capacity to make an informed, uncoerced decision independently or govern oneself.