Mr Jamail Transferred Business Personalty (FMV $187,000; Adjusted Tax Basis

question 52

Multiple Choice

Mr Jamail transferred business personalty (FMV $187,000; adjusted tax basis $29,900) to J&K Partnership in exchange for a partnership interest. Which of the following statements is true?

• A) If Mr. Jamail owns a 14% partnership interest immediately after the exchange, he must recognize a $157,100 gain.
• B) If Mr. Jamail owns 34% partnership interest immediately after the exchange, he recognizes no gain on the exchange.
• C) If Mr. Jamail owns a 14% partnership interest immediately after the exchange, his tax basis in the interest is $187,000.
• D) Statements a. and c. are true.

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Definitions:

Attitude Accessibility

Refers to the ease with which an attitude can be retrieved from memory.

Peripheral Route

A persuasion method that involves indirect cues like attractiveness or celebrity endorsement to influence attitudes or behaviors, rather than direct, logical arguments.

Implicit Route

This key term does not refer to a widely recognized concept in psychology or cognitive science. NO.

Central Route

A method of persuasion that involves deeply processing the content of the message, leading to lasting attitude change.