The Term "Outside Basis" Refers to the Partnership's Basis in Its

question 70

True/False

The term "outside basis" refers to the partnership's basis in its assets; whereas, the term "inside basis" refers an individual partner's basis in her partnership interest.

---

Definitions:

External-Stable

An attributional pattern where success or failure is attributed to enduring factors outside an individual's control.

Cognitive Inconsistency

The state of having contradictory thoughts, beliefs, or attitudes, especially relating to behavioral decisions and attitude change.

Temporary Drug Treatment

The use of pharmaceuticals for a limited period to treat a condition or manage symptoms.

Dysfunction

A deviation from the norms or an impairment that leads to adverse effects on individual or group functioning.