A customer wanting to invest in an oil and gas limited partnership wants to know what her cost basis would be for tax purposes. While there can be a number of variables, cost basis for a limited partner is best defined as
A) noncash contribution + nonrecourse debt - recourse debt
B) cash investment made - distributions
C) cash investment made + recourse debt - distributions
D) recourse debt - cash contributions
Ans: C) cash investment made + recourse debt - distributions
Business
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In _____, the manufacturer and the retailer split the costs of advertising the manufacturer's brand.
Fill in the blank(s) with the appropriate word(s).
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An assignment of your shareholder voting rights to someone else is known as a
A) proxy. B) preemptive right. C) subrogation right. D) put.
Business