Match the Following Independent Distribution Payments in Liquidation of a Partner's

question 70

Multiple Choice

Match the following independent distribution payments in liquidation of a partner's interest in an ongoing partnership with the statements below.
-Distribution of $10,000 cash to a limited partner for goodwill when goodwill is not provided for in the partnership agreement.

• A)A payment for the partner's share of partnership income under § 736a).
• B)A payment for the partner's share of partnership property under § 736b).
• C)The payment includes both a § 736a) and a § 736b) element.

---

Definitions:

Pareto Optimal

Pareto optimal is a state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.

Smelted

The process of extracting a metal from its ore by heating and melting, often involving a chemical reduction reaction.

Carload

A shipping term used to indicate the minimum quantity of cargo necessary for goods to be shipped at a carload rate, typically pertaining to rail transport.

Smelted

The process of extracting a metal from its ore by heating and melting.