Match the Following Statements with the Best Match from the Choices

question 32

Multiple Choice

Match the following statements with the best match from the choices below. Note: Choice N may be used more than once.
-Technical termination

• A)Includes the partner's share of partnership liabilities.
• B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
• C)Liquidation payments from this type of partnership are always § 736(b) payments.
• D)Could arise if a distribution results in loss to the distributee partner.
• E)May be a § 736(a) payment.
• F)May receive § 736(a) payments.
• G)Probably treated as a general partner for § 736 purposes
• H)Sale of more than 50% in less than 12 months.
• I)Liquidation payments from this type of partnership may include § 736(a) payments.
• J)A § 736(b) payment.
• K)Adjustment designed to bring inside and outside bases into balance.
• L)Partnership asset basis is at least $250,000 > FMV.
• M)Would result if the partner contributes appreciated property to the partnership.
• N)No correct match is provided.

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Definitions:

Firefighters

Trained professionals responsible for extinguishing fires, rescuing individuals, and protecting public safety during emergencies.

Open Shop

A workplace where membership in a union is not a requirement for employees to be hired or maintain their positions.

Nonunion Members

Individuals who are employed in a workplace represented by a labor union but choose not to join or associate with the union.

Union

An organization formed by workers in various sectors to negotiate with their employers for better wages, working conditions, and benefits.