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Which of the following goods is rival in consumption and excludable?
Nondeductible Items
Expenses or items that cannot be subtracted from gross income to reduce taxable income according to tax laws.
Partnership Interest
An ownership share in a partnership that entitles the holder to a portion of the entity's profits and losses.
FMV
Fair Market Value, the price at which property would sell on the open market between a willing buyer and a willing seller.
Partnership Basis
The amount invested in a partnership by the partners, adjusted for additions, withdrawals, and the individual's share of partnership profits or losses.
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