A nonliquidating distribution of cash or property from the partnership to a partner is generally treated as a tax-free return of capital to the extent of a partner's basis.
Answer the following statement true (T) or false (F)
True
The partner has already recognized and paid taxes on the funds distributed.
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Xu Corp started business at the beginning of 2016 . Xu selected the FIFO method for its inventory. In order to maximize its profits for 2016 under this method, prices must be
a. Stable b. Decreasing c. Increasing d. Fluctuating up and down at the same amount consistently over the year
Which of the following statements is true concerning language in the workplace?
a. Employees are more productive if they all speak the same language. b. The use of more than one language in a workplace is preferred. c. Employees who are bilingual are always paid more. d. Language choice has implications for the way individuals are treated.
Which of the following is a reason for a partnership to "die"?
A) One of the partners starts a new business within the same company. B) The partners decide to relocate the headquarters of the partnership. C) One of the partners attempts to buy the share of the others. D) The partnership is merged with another business.
The proceeds of a life insurance policy payable to a spouse cannot be disposed of by will
Indicate whether the statement is true or false