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Match each of the following statements with the terms below that provide the best definition.
Match each of the following statements with the terms below that provide the best definition.
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.
-Domestic production activities deduction
Wildcat Strike
An unauthorized work stoppage initiated by workers without the consent or approval of their union's leadership.
Positive Settlement Zone
A range within negotiation where the interests of all parties overlap, making agreement possible.
Bargaining Zone
The range or area within which an agreement is satisfactory to both parties involved in a negotiation process.
Unionization Process
Unionization Process is the procedure through which workers organize, form, or join a labor union to collectively negotiate wages, benefits, and working conditions with their employer.
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