Which of the Following Statements Is True Regarding Partnership Operating

question 75

Multiple Choice

Which of the following statements is true regarding partnership operating distributions?

• A) Partners will never recognize a gain on an operating distribution.
• B) Partners receiving a distribution of property other than money will take a basis in the property equal to its fair market value.
• C) Partners will never recognize a loss on an operating distribution.
• D)None of these statements is true.

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Referent Power

A form of influence based on the leader's personal traits, where followers identify with or want to emulate the leader.

Rational Power

The influence or control over others based on logic, reasoning, and factual evidence, often seen in professional or academic settings.

Charisma Power

The ability to inspire and influence others through personal charm, appeal, or magnetism.

Expert Power

Expert power is the influence one possesses as a result of one's experience, skills, or knowledge, which others see as valuable or necessary.