The XYZ Partnership Owns the Following Assets on December 31

question 74

Multiple Choice

The XYZ Partnership owns the following assets on December 31: By how much must XYZ reduce its unrealized receivables to avoid meeting the substantially appreciated inventory test?

• A) $10,000
• B) $14,000
• C) $15,000
• D) No amount of reduction of unrealized receivables will affect meeting the substantially appreciated inventory test.

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