The XYZ Partnership Owns the Following Assets on December 31

question 30

Multiple Choice

The XYZ Partnership owns the following assets on December 31: A partner has a 20% interest with a basis of $6,000 in XYZ before receiving a liquidating distribution of $10,000 cash.XYZ Partnership has no liabilities.His recognized gain is

• A)$4,000 capital gain.
• B)$3,000 capital gain and $1,000 ordinary income.
• C)$3,000 ordinary income.
• D)$3,000 ordinary income and $1,000 capital gain.

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Definitions:

Repeated Measures

A research design in which the same participants are measured multiple times under different conditions.

Null Hypotheses

A hypothesis that suggests there is no statistical significance in a given set of observations.

Multivariate ANOVA

A statistical technique used to assess the differences among group means when there are two or more dependent variables.