Identify Which of the Following Statements Is True

question 67

Multiple Choice

Identify which of the following statements is true.

• A)A partner's relief of debt is treated as if the partner receives a cash distribution.
• B)When a partnership assumes any liabilities of the transferor, the transferor has an increase in the basis of his or her partnership interest.
• C)Gain recognized by a contributing partner because of the assumption of liabilities by the partnership increases the partnership's basis in the contributed property.
• D)All of the above are false.

---

Definitions:

Substitutes For Leadership

The concept that certain characteristics of the organization, task, or subordinates themselves can diminish or replace the influence of leadership.

Values-Based Leader

A leader who guides and influences others based on core personal values and principles, often inspiring similar values in their followers.

Project GLOBE's Findings

Represents the outcomes of the Global Leadership and Organizational Behavior Effectiveness research project, focusing on understanding how culture affects leadership and organizational practices worldwide.

Implicit Leadership Theory

A concept suggesting that people have inherent ideas and expectations about what constitutes effective leadership, influencing their perception of leadership behaviors.