Identify Which of the Following Statements Is False

question 36

Multiple Choice

Identify which of the following statements is false.

• A)A sale or exchange of at least 50% of the capital and profits interest in a partnership within a 12- consecutive-month period will terminate the partnership and end all of the partnership's elections.
• B)When using the 50% rule to terminate a partnership, if an interest is sold more than once during the 12-month period, each sale is counted separately.
• C)A partner's individual income tax return, under some circumstances, may include the results of partnership operations for a period exceeding 12-months.
• D)When several different transfers are made during a 12-month period, the partnership termination occurs on the date of the transfer that first crosses the 50% threshold.

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Definitions:

Storage Medium

Any material or device that can be used to store data, such as a hard drive, solid-state drive, or optical disc.

Head Crash

A hardware malfunction in a hard disk drive when the read-write head comes into contact with the spinning disk surface, often resulting in data loss.

Software

Programs and operating information used by a computer to perform specific tasks.

Software Developer

A professional who designs, writes, tests, and maintains computer software or applications.