Which Requirement Must Be Satisfied in Order to Specially Allocate

question 32

Multiple Choice

Which requirement must be satisfied in order to specially allocate partnership income or losses to partners?

• A)Special allocations must have economic effect.
• B)At least one partner must agree to the special allocations.
• C)Special allocations must be insignificant.
• D)Special allocations must reduce the combined tax liability of all the partners.

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Definitions:

Pupil Diameter

The size of the opening in the center of the iris of the eye, which regulates the amount of light that enters the eye.

Sphincter Pupillae

Circular smooth muscle fibers of the iris’s diaphragm that constrict the pupil of the eye.

Ciliary Muscles

Ring-shaped muscles in the eye that change the shape of the lens to focus light on the retina, enabling the eye to adapt its vision for close or distant objects.

Dilator Pupillae

Radial smooth muscle cells of the iris diaphragm that cause the pupil of the eye to dilate.