Match Each of the Following Statements with the Terms Below

question 96

Multiple Choice

Match each of the following statements with the terms below that provide the best definition.
-Business purpose

• A)Adjusted basis of each partnership asset.
• B)Operating expenses incurred after entity is formed but before it begins doing business.
• C)Each partner's basis in the partnership.
• D)Reconciles book income to taxable income.
• E)Tax accounting election made by partnership.
• F)Tax accounting calculation made by partner.
• G)Tax accounting election made by partner.
• H)Does not include liabilities.
• I)Designed to prevent excessive deferral of taxation of partnership income.
• J)Amount that may be received by partner for performance of services for the partnership.
• K)Theory under which a partnership's recourse debt is shared among the partners.
• L)Will eventually be allocated to partner making tax-free property contribution to partnership.
• M)Partner's share of partnership items.
• N)Must generally be satisfied by any allocation to the partners.
• O)Justification for a tax year other than the required taxable year.
• P)No correct match is provided.

---

Definitions:

Observable Symbols

tangible manifestations or representations of an organization's culture, values, or identity.

Organizational Culture

The set of shared beliefs, values, customs, practices, and behaviors that define a social group or organization.

Subcultures

Groups within a larger culture or organization that have their own distinct values, norms, and behaviors that differentiate them from the broader group.

Dissenting Values

Values or beliefs that differ significantly from those of the dominant group or culture, leading to opposing viewpoints or actions.