Leslie Contributes a Building Worth $88,000, with an Adjusted Basis

question 8

Multiple Choice

Leslie contributes a building worth $88,000, with an adjusted basis of $40,000, to a partnership in exchange for a 50 percent interest in the partnership's capital and profits.What is the amount of Leslie's basis in her partnership interest immediately after the contribution?

• A)$20,000
• B)$40,000
• C)$44,000
• D)$88,000
• E)None of the above

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Definitions:

Prokaryotic mRNA

Messenger RNA found in prokaryotic organisms that is used to carry genetic information from DNA for protein synthesis.

Posttranscriptional Regulation

The control of gene expression at the RNA level, occurring after transcription but before translation.

Inducible Genes

Genes whose expression is increased or initiated in response to specific stimuli or environmental conditions.

Environmental Stimuli

External factors that influence the behavior and physiology of organisms, such as temperature, light, and sound.