Match Each of the Following Statements with the Numbered Terms

question 87

Multiple Choice

Match each of the following statements with the numbered terms below that provide the best definition.
-Profits interest

• 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)Partnership in which partners are liable only for any partner's malpractice.
• E)Amount that might be reported on either form 1065, page 1 or, on Schedule K.
• F)Transfer of asset to partnership followed by immediate distribution of cash to partner.
• G)Must have at least one general and one limited partner.
• H)Long-term capital gain might be recharacterized as ordinary income.
• I)All partners are jointly and severally liable for entity debts.
• J)Theory treating the partner and partnership as separate economic units.
• K)Partner's basis in partnership interest after tax-free contribution of asset to partnership.
• L)Partnership's basis in asset after tax-free contribution of asset to partnership.
• M)One way to calculate a partner's economic interest in the partnership.
• N)Owners are members.
• O)Theory treating the partnership as a collection of taxpayers joined in an agency relationship.
• P)Participates in management.
• Q)Not liable for entity debts.
• R)No correct match provided.

---

Definitions:

Assimilationist Politics

Policies or practices that encourage individuals or groups to conform to the cultural norms of a dominant or majority group, often at the expense of their own cultural identity.

Internalized Oppression

The process by which individuals from marginalized groups come to accept and live out the inaccurate myths and stereotypes applied to them by the dominant culture.

Sensationalized

Describes information, especially in media, that is exaggerated or presented in a way that provokes public excitement or interest at the expense of accuracy or impartiality.

Performative

Relating to actions done for show or to fulfill a cultural, social, or political expectation, rather than from genuine personal conviction.