At the Beginning of the Year, Elsie's Basis in the E&G

question 22

Multiple Choice

At the beginning of the year, Elsie's basis in the E&G Partnership interest is $90,000.She receives a proportionate nonliquidating distribution from the partnership consisting of $10,000 of cash, unrealized accounts receivable (basis of $0, fair market value $40,000) , and land (basis of $30,000, fair market value of $50,000) .After the distribution, Elsie's bases in the accounts receivable, land, and partnership interest are:

• A)$0; $30,000; and $50,000.
• B)$0; $50,000; and $30,000.
• C)$40,000; $30,000; and $10,000.
• D)$40,000; $40,000; and $0.
• E)None of the above.

---

Definitions:

B Data

Behavioral data in psychology, which consists of observations about an individual's behavior in natural or staged scenarios, often used for assessing personality.

Face Validity

The degree to which an assessment instrument, such as a questionnaire, on its face appears to measure what it is intended to measure. For example, a face-valid measure of sociability might ask about attendance at parties.

Exploratory Factor Analysis

A statistical technique used to identify potentially underlying variable structures within a set of observed variables without a preconceived structure in mind.

Confirmatory Factor Analysis

A statistical method used to test whether a set of observed variables represents a number of underlying factors.