Loretta Contributes Property to a Partnership in Exchange for a 25

question 16

Multiple Choice

Loretta contributes property to a partnership in exchange for a 25 percent partnership interest. The property contributed has a fair market value of $45,000 and a basis of $35,000 on the date of the contribution to the partnership. In addition, Loretta receives a 10 percent partnership interest, valued at $18,000, in exchange for services rendered to the partnership. What is Loretta's basis in her partnership interest, immediately after these transactions?

• A)$35,000
• B)$45,000
• C)$53,000
• D)$63,000
• E)None of these

Understand the characteristics and identification of gifted individuals.

Grasp the basics of infant intelligence testing and its predictive value.

Comprehend the extremes of intelligence, including mental retardation and giftedness.

Appreciate the stability and change of intelligence over time.

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Definitions:

Disjunctive Syllogism

A logical argument concluding that one of the options in a disjunction must be true if the other is false.

Disjunctive Proposition

A logical assertion that at least one of its component propositions is true.

Affirmative

Confirming or agreeing to a fact or question.

Disjunctive Premise

A statement in an argument that presents alternatives, typically in the form "either A or B."