Identify Which of the Following Statements Is True

question 21

Multiple Choice

Identify which of the following statements is true.

• A)The Hunter Partnership has a net long-term capital gain of $4,000 and a net short-term capital loss of $1,000 for the current tax year. The gain and loss will be netted and the partners will include their proportionate share of the $3,000 net long-term capital gain on their return.
• B)The Right Partnership sells a delivery truck and recognizes a gain of $2,000, which represents depreciation recaptured under Sec. 1245. The $2,000 gain will retain its identity as a separately stated item.
• C)For tax purposes, the partnership takes a carryover basis in the contributed property that references the contributing partner's basis.
• D)All of the above are false.

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Definitions:

Split-half Reliability

A measure of consistency where a test is divided into two parts, and the scores on both halves are compared to assess the test's reliability.

Curvilinear Relationship

A relationship in which changes in the values of the first variable are accompanied by both increases and decreases in the values of another variable.

Discriminant Validity

The construct validity of a measure is assessed by examining the extent to which scores on the measure are not related to scores on conceptually unrelated measures.

Internal Consistency

A measure of the reliability of a psychological test or survey, assessing if all items evaluate the same characteristic and produce similar scores.