Identify Which of the Following Statements Is True

question 15

Multiple Choice

Identify which of the following statements is true.

• A)A partner's distributive share includes the full amount of partnership ordinary income, which she must report on her tax return plus her share of separately stated taxable and tax-exempt items.
• B)Sam has a 20% interest in partnership capital and profits but a 40% interest in partnership losses. The partnership has no special allocations or precontribution gains or losses. In a year in which the partnership reports ordinary income of $100,000 and a capital loss of $30,000, Sam's distributive share is $20,000 ordinary income and $12,000 capital loss.
• C)The partner's distributive share is the partner's share of any assets distributed by the partnership.
• D)All of the above are false.

---

Definitions:

Inclusivity

The practice of ensuring equal access and opportunities for all, particularly for those who might be otherwise excluded or marginalized.

Competitive Advantage

The attribute that allows an organization to outperform its competitors, creating greater value for its customers or clients.

Leaking Pipeline

A metaphor often used to describe the continuous loss of individuals from a system, process, or profession, especially referring to underrepresented groups in certain fields.

Ethnic Subcultures

Groups within a larger culture that share distinct heritage, traditions, languages, or social practices.