Match the Following Statements with the Best Match from the Following

question 140

Multiple Choice

Match the following statements with the best match from the following choices. Choice M may be used more than once.
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• A)Includes the partner's share of partnership liabilities.
• B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
• C)Liquidation payments from this type of partnership are always § 736b) payments.
• D)Could arise if a distribution results in loss to the distributee partner.
• E)May be a § 736a) payment.
• F)May receive § 736a) payments.
• G)Probably treated as a general partner for § 736 purposes
• H)Conversion of an LLC to a C corporation
• I)Liquidation payments from this type of partnership may include § 736a) payments.
• J)A § 736b) payment.
• K)Adjustment designed to bring inside and outside bases into balance.
• L)Partnership asset basis is at least $250,000 > FMV.
• M)No correct match is provided.

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Definitions:

Tsunamis

Large, powerful sea waves caused by underwater earthquakes, volcanic eruptions, or other disturbances, capable of causing widespread destruction.

Correct Verb

The usage of the appropriate verb form that agrees with the subject in number and person and fits the sentence meaning.

Tsunami

A sequence of massive sea waves usually triggered by subaquatic tremors, volcanic activities, or earth slips.

Southern Asia

A region of Asia that includes countries such as India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and Maldives.