Rocky and Charlie Form RC Partnership as Equal Partners

question 88

Multiple Choice

Rocky and Charlie form RC Partnership as equal partners.Rocky contributes $100,000 into RC while Charlie contributes real estate with a fair market value of $100,000.During the current year,RC earned net income of $600,000.The partnership distributes $200,000 to each partner.The amount that Rocky should report on his individual tax return is

• A)$0.
• B)$100,000.
• C)$200,000.
• D)$300,000.

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Definitions:

Antecedent

An event, condition, or cause that happens before another event and influences it.

Stimulus

Any event, object, or signal that triggers a response or reaction from an organism or system.

Consequence

The result or effect of an action or condition, often used in the context of discussing the outcomes of decisions or events.

Contingency Of Reinforcement

The relationship between a behavior and its consequences, emphasizing the need for a specific behavior to occur before a reinforcer is given.