Mark Is a Cash Basis Taxpayer

question 8

True/False

Mark is a cash basis taxpayer. He is a partner in the M&M partnership, and his share of the partnership's profits for 2012 is $90,000.Only $40,000 was distributed to him in January 2012, and this was his share of the 2011 partnership profits. None of the 2012 profits were distributed although Mark's share of the 2012 profits was $90,000.Mark's gross income from the partnership for 2012 is $40,000.

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Definitions:

Sampling Interval

The standard distance or time between samples when sampling a population.

Systematic Sampling

A method of sampling where every nth item in the target population is selected systematically for inclusion in the sample.

Standard Error

A statistical term that describes the standard deviation of the sampling distribution of a statistic, commonly used to measure the accuracy of sample means.

Snowball Sampling

A sampling technique where current study participants recruit future participants from among their acquaintances.