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:

Outsiders

Individuals or groups considered different from or not belonging to the main group or society, often facing marginalization.

Racial Gap

The significant disparities or differences between racial and ethnic groups in various aspects of life, including education, income, health, and employment.

Callbacks

The process of inviting applicants back for a second, more in-depth interview or audition after an initial selection process.

Resume Quality

The caliber of a resume, determined by its clarity, organization, relevance of the information presented, and its ability to effectively highlight an individual's skills and achievements.