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

---

Definitions:

Isolationism

A foreign policy strategy that emphasizes a nation's decision to keep apart from the affairs or interests of other groups, especially the political affairs of other countries.

World War I

A global conflict that occurred from 1914 to 1918, involving many of the world's nations, including the great powers organized into two opposing alliances.

Foreign Policy

Strategies and decisions a country employs in its interactions with other nations, focusing on diplomacy, security, and economic interests.

War Powers Resolution Act

A federal law intended to check the president's power to commit the United States to armed conflict without the consent of Congress, passed in 1973.