The SSC Partnership Balance Sheet Includes the Following Assets on December

question 76

Multiple Choice

The SSC Partnership balance sheet includes the following assets on December 31 of the current year: $$\begin{array} { | l | r | r | } \hline & \text { Basis } & \text { FMV } \\\hline \text { Cash } & \$ 180,000 & \$ 180,000 \\\hline \text { Accounts receivable } & - 0 - & 60,000 \\\hline \text { Equipment } ( \text { cost } = \$ 100,000 ) & 40,000 & 50,000 \\\hline \text { Land } & 90,000 & 120,000 \\\hline \text { Total } & \underline { \$ 310,000 } & \$ \$ 410,000 \\\hline\end{array}$$ Which of SSC's assets are considered hot assets under §751(a) ?

• A) Cash and accounts receivable.
• B) Cash and land.
• C) Accounts receivable and land.
• D) Accounts receivable and inherent recapture under §1245 in the equipment.

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Definitions:

Stressors

Factors or stimuli that induce stress, potentially causing psychological strain or emotional tension in individuals.

Work-family Conflict

A form of tension occurring when the demands of work clash with the demands of familial or personal life.

Job Demands

The physical, psychological, social, or organizational aspects of a job that require sustained effort and skills.

Job Demands

The physical, psychological, social, or organizational aspects of a job that require sustained effort and skills, and are therefore associated with certain physiological or psychological costs.