Passion
being open minded
desire to become the best at what you do
having a positive attitude and outlook
constantly keep your ideas flowing
Answer: Harrison will acknowledge a gain equal to the difference between his basis and the distribution . This is because he receives only money in the distribution and the amount transcend his basis in KH. He further allot his entire basis in KH to the basis in the money received resulting in $0 basis in KH after the distribution.
∴ <em>The capital gain will be $6000 i.e. (50000 - 44000) and $0 basis.</em>
Answer: D. U.S. Treasury securities and Discount loans to banks.
Explanation: When examining the Fed's balance sheet, in most periods, the two most important assets are U.S. Treasury securities and Discount loans to banks. The Fed's balance sheet balance sheet includes a large number of distinct assets and liabilities containing a great deal of information about the scale and scope of its operations. Of these assets the U.S. Treasury securities and Discount loans to banks are paramount.
U.S Treasury securities are such as bills, notes and bonds issued by the U.S. government viewed as having virtually no credit risk. As such, they are debt obligations of the U.S. government.
Discount loans to banks are direct short term loans provided to banks by the Fed to meet temporary shortages of liquidity caused by internal or external disruptions.
Answer:
The correct answer is letter "C": The partnership has a limited life.
Explanation:
A partnership is an organization with two or more members running a business. They share the profits in percentage terms in proportion to their partnership value. There are two types of partnerships: general partnerships (<em>unlimited liability</em>) and limited partnerships (<em>liability proportional to the contribution to the partnership</em>).
The partnership dissolves and a new partnership is created when one of the partners is removed, retired or deceased or even when a new partner is introduced. Thus, <em>partnerships have a limited life</em>.
