Match the Following Statements with the Best Match from the Following

question 93

Multiple Choice

Match the following statements with the best match from the following choices. Choice M may be used more than once.
-Unstated goodwill

• A)Includes the partner's share of partnership liabilities.
• B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
• C)Liquidation payments from this type of partnership are always § 736b) payments.
• D)Could arise if a distribution results in loss to the distributee partner.
• E)May be a § 736a) payment.
• F)May receive § 736a) payments.
• G)Probably treated as a general partner for § 736 purposes
• H)Conversion of an LLC to a C corporation
• I)Liquidation payments from this type of partnership may include § 736a) payments.
• J)A § 736b) payment.
• K)Adjustment designed to bring inside and outside bases into balance.
• L)Partnership asset basis is at least $250,000 > FMV.
• M)No correct match is provided.

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Definitions:

Sulfonium Salts

Ionic compounds that contain a positively charged sulfur atom directly bonded to three organic groups.

SAM

S-Adenosylmethionine, a compound involved in methyl group transfers in biological processes.

Biological Systems

Complex networks of biotic and abiotic components that interact in precisely balanced ways within living organisms.

Sulfonium Salt

An ionic compound featuring a central sulfur atom covalently bonded to three organic groups and bearing a positive charge, with an associated anion to balance the charge.