Which of the Following Assets May Cause a Partner to Recognize

question 84

Multiple Choice

Which of the following assets may cause a partner to recognize ordinary income rather than capital gain on the sale of a partnership interest?

• A)land
• B)long-term debt
• C)inventory
• D)buildings which have been placed in service after 1986

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Definitions:

Effort Duplication

The unnecessary repetition of work or tasks, often resulting in wasted resources and time.

Matrix Structure

A hybrid organizational structure that combines aspects of both functional and divisional structures, with employees typically reporting to more than one manager.

Product Manager

A professional responsible for the strategy, roadmap, and feature definition for a product or product line.

Functional Manager

A supervisor who has oversight over a particular department or function within the organization, such as finance, marketing, or production.