Nate Is a Partner in a Partnership That Received $5,000

question 82

Multiple Choice

Nate is a partner in a partnership that received $5,000 of interest income this year. Nate's share of the interest is $1,000, and he should report this income on his individual return as:

• A) business income
• B) income from a partnership
• C) interest income
• D) dividend income because the partnership intends to organize next year as a limited liability company
• E) All of these

---

Definitions:

Leadership Positions

Roles or titles within an organization that entail guiding, directing, or influencing others.

Women

Female humans; also refers to issues, concepts, and perspectives related to femininity or the female gender.

Uncertainty Avoidance

A cultural dimension that describes the degree to which societies are willing to tolerate uncertainty and ambiguity.

High Uncertainty Avoidance

A cultural dimension denoting societies that have a low tolerance for ambiguity, resulting in strict norms, behaviors, and a desire for predictability.