Match the Following Statements with the Best Match from the Following

question 132

Multiple Choice

Match the following statements with the best match from the following choices. Choice M may be used more than once.
-Sales price of partnership interest

• 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.

---

Definitions:

Colon Cancer

A type of cancer that begins in the large intestine (colon), which is the final part of the digestive tract.

Colostomy

A surgical procedure that creates an opening (stoma) from the colon to the surface of the abdomen to eliminate waste.

Peristalsis

The involuntary contractions and relaxations of the muscles in the digestive tract, which move contents through the system.

Jejunum

The middle section of the small intestine between the duodenum and ileum, where most of the nutrients from food are absorbed.