Match Each of the Following Statements with the Terms Below

question 134

Multiple Choice

Match each of the following statements with the terms below that provide the best definition.
-Outside basis

• A)Adjusted basis of each partnership asset.
• B)Operating expenses incurred after entity is formed but before it begins doing business.
• C)Each partner's basis in the partnership.
• D)Reconciles book income to taxable income.
• E)Tax accounting election made by partnership.
• F)Tax accounting calculation made by partner.
• G)Tax accounting election made by partner.
• H)Does not include liabilities.
• I)Designed to prevent excessive deferral of taxation of partnership income.
• J)Amount that may be received by partner for performance of services for the partnership.
• K)Theory under which a partnership's recourse debt is shared among the partners.
• L)Will eventually be allocated to partner making tax-free property contribution to partnership.
• M)Partner's share of partnership items.
• N)Must generally be satisfied by any allocation to the partners.
• O)Justification for a tax year other than the required taxable year.
• P)No correct match is provided.

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Definitions:

Directive

A type of guidance or instruction that directs or orders how something should be done or achieved.

Therapeutic Environment

A setting designed to promote healing and wellness, often characterized by safety, support, and respect for the individual’s needs and dignity.

Somatization

refers to the process of manifesting psychological distress through physical symptoms without a medical cause.

Emotional Expression

The process of conveying one's feelings or emotions through words, facial expressions, body language, or other forms of communication.