CHAPTER 21 PARTNERSHIPS TRUE/FALSE 1. Unlike a subchapter C corporation‚ a partnership is subject to only one level of taxation and can often liquidate in a tax-deferred manner. ANS: T A partnership is a flow-through entity subject to only one level of taxation. Liquidation of the partnership is generally tax-deferred. PTS: 1 REF: p. 21-2 | p. 21-3 2. Section 721 provides that no gain or loss is recognized on contribution of property to a partnership in exchange for an interest in
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assumptions but be sure to provide adequate justification for any recommendations you make. Background: NDAS was founded in1985 to compete in the expanding market for overnight package deliveries. NDAS provides local pickup and delivery of these parcels and other small freight items. The founders initially restricted their efforts to the rapidly growing central Florida region of USA. To support its operation‚ NDAS purchased a facility near the Tampa International Airport. This facility consisted
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Mapalo v. Mapalo Facts: Miguel Mapalo and Candida Quiba‚ simple illiterate farmers‚ were registered owners of a residential land in Manaoag‚ Pangasinan. Out of love and affection for Maximo Mapalo‚ Miguel’s brother who was about to get married‚ they decided to donate the eastern half of the land. However‚ they were deceived into signing a deed of absolute sale of the entire land on October 15‚ 1936. The document showed a consideration of P500‚ but the spouses actually did not receive anything.
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English Language & Comprehension: Answers in Last Page Directions—(Q. 1–5) Some of the sentences have errors and some have none. Find out which part of a sentence has an error and blacken the rectangle [■] corresponding to the appropriate letter (A‚ B‚ C). If there is no error‚ blacken the rectangle [■] corresponding to (D) in the Answer sheet. 1. Though there is hourly bus service on this route (A) a number of people are still suffering (B) as there is no bus shelter here. (C) No error.
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Many Americans today have a negative perception of the federal bureaucracy. They consider it a huge‚ immovable object that hinders progress and intrudes on their lives. Most Americans believe the federal bureaucracy has grown in the last few decades to an enormous size. This is a misperception. Since the 1960s‚ the size of the federal bureaucracy has been very stable. By contrast‚ however‚ state and local bureaucracies have grown steadily since World War II‚ reflecting the increasing extent to which
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Assignment on Marketing Activities of DHL Introduction The world is standing at the threshold of a new millennium. We expect it to be full of successes‚ discoveries‚ developments and happiness and this will be possible due to globalization‚ technological advancements (changes) and the dramatic economic changes. Whenever we talk about economy‚ we mean financial performance of a country‚ company or a firm. So in this case the most used and the important term is technology. The term technology
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parents business at their request‚ built a new home on their land‚ installed a well‚ and bought equipment for the business all with his own funds. There was a verbal agreement that Schumacher would be allowed to manage the business for life and a large parcel of land would be given to him when his first parent died. When the parents decided to sell the Inn and adjoining property‚ Schumacher sued. He lost‚ because in Minnesota‚ the agreement had to be in writing and his was an oral agreement. The question
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contrasted with a freedom and culture merely civil‚ to regard man as an inhabitant‚ or‚ a part and parcel of Nature‚ rather than a member of society. Here‚ it’s easy to see the conflict because Thoreau outrightly opposes one claim or idea to another. Conflict is inherent in opposition. But even if Thoreau had not blatantly presented two opposing forces‚ his idea "to regard man as an inhabitant‚ or‚ a part and parcel of Nature" is amply conflictual because it goes against what was commonly held true by a
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wit: 1. Herein private respondents and their brothers‚ Jose and Dominador Jimenez‚ were the registered co-owners of a parcel of land consisting of 17‚710 square meters‚ covered by Transfer Certificate of Title (TCT) No. 309773‚ 2situated in Barrio Culasi‚ Las Piñas‚ Metro Manila. 2. On July 28‚ 1988‚ Jose and Dominador Jimenez sold their share consisting of one-half of said parcel of land‚ specifically the eastern portion thereof‚ to herein petitioner pursuant to a "Kasulatan sa Bilihan ng Lupa." 3Subsequently
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BUSINESS SERVICES BANKING - Functions of Commercial banks. Functions of commercial banks have been divided into four catagories: 1. Primary functions 2. Secondary functions 3. Social functions 4. Electronic Banking Services. 1. Primary functions- Banks have two primary functions-accepting deposits and advancing loans. A) Accepting deposits-The bank accepts deposits from public. People deposit their money as per their convenience and capability in the following accounts; i) Fixed or time
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