Which of the Following Statements Is Always Correct Regarding Assets

question 46

Multiple Choice

Which of the following statements is always correct regarding assets acquired by a newly formed partnership? If a partner contributes:

• A)Depreciable property: the partnership treats the property as newly acquired depreciable property, and may claim a § 179 deduction.
• B)Unrealized (cash-basis) receivables: the partnership will report a capital gain when the receivable is collected.
• C)Inventory (in the partner's hands): the partnership reports ordinary income if the property is held as a capital asset and sold within five years of the contribution date.
• D)Land valued at less than its basis: the partnership reports a § 1231 loss if the property is sold at a loss.
• E)None of these statements is correct.

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Definitions:

Receptor Site

A location on a dendrite of a receiving neuron tailored to receive a neurotransmitter.

Computerized Axial Tomography

A medical imaging technique that uses a series of X-ray measurements taken from different angles to produce cross-sectional images of specific areas of a scanned object, allowing the doctor to see inside the object without cutting.

Brain Imaging

comprises techniques and processes used to create visual representations of the brain's structure and function, aiding in diagnosis and treatment of neurological conditions.

Three-dimensional Image

An image that possesses the depth, height, and width dimensions, providing a representation of objects in three dimensions.