A(n) __________ Is an Unproven Proposition or Supposition That Tentatively

question 69

Short Answer

A(n) __________ is an unproven proposition or supposition that tentatively explains certain facts or phenomena.

---

Definitions:

Partnership Income

Earnings distributed to the partners of a partnership from the business, which is reported on their personal income tax returns.

Basis

The amount paid for an asset or investment, used to calculate gain or loss for tax purposes.

Active Participation

Involvement in making management decisions and the right to make significant and bona fide contributions to the operating and financial management of an activity.

Material Participation

A taxpayer's active and regular involvement in the operations of a business to qualify for certain tax benefits.