Identify Which of the Following Statements Is True

question 17

Multiple Choice

Identify which of the following statements is true.

• A)A general partner's share of recourse debt is based on his or her economic risk of loss, and his or her share of nonrecourse debt is predominantly based on his or her share of partnership profits.
• B)A partner's basis for his or her partnership interest is increased by his or her share of the partnership's tax-exempt income.
• C)If all tax-exempt interest income is distributed when received by a partnership, the partners' bases are the same after the distribution as they were before the tax-exempt interest was received by the partnership.
• D)All of the above are true.

---

Definitions:

Large Families

Households with a significantly higher number of members than the average family size, often including multiple generations or many siblings.

Environmental Justice

The fair treatment and meaningful involvement of all people regardless of race, color, national origin, or income with respect to the development, implementation, and enforcement of environmental laws, regulations, and policies.

Modern Environmental Movement

A diverse scientific, social, and political movement for addressing environmental issues and promoting sustainability.

Exxon Valdez

An oil tanker whose 1989 spill off the coast of Alaska is considered one of the worst environmental disasters, resulting in massive oil pollution.