Note: use the following fact pattern for the next two questions.   Bonnie is a partner in a general partnership in which she has an outside basis of $22,000 at the end of the year (prior to any distributions). On December 31, Bonnie receives a proportionate nonliquidating distribution of $16,000 cash and property with a $13,000 fair value and a $9,000 basis to the partnership.   What is the amount and character of Bonnie’s gain or loss from the distribution?

Note: use the following fact pattern for the next two questions.   Imelda provided tax services to Acacia, a partnership. As compensation for her services, Imelda received a 10 percent interest in the partnership. Acacia has $20,000 of nonrecourse debt and no recourse debt. The current fair value of Acacia’s capital is $60,000.   If Imelda receives a 10 percent profits interest only, how much income must she report and what is her basis in the partnership interest?

Leslie received a 40 percent capital and profits interest in Sparkleberry, a general partnership, in exchange for accounting services she provided to the business. In addition to her share of partnership profits or losses, Leslie receives a $15,000 guaranteed payment each year for ongoing services she provides to the partnership. Sparkleberry reported the following revenues and expenses this year:   Service revenue – $13,000 Depreciation expense (MACRS) – ($7,500) Charitable contributions – ($12,500) Gain on sale of land (a Sec. 1231 asset) – 4,000 Interest income – $500 Sec. 179 depreciation – (5,000) Guaranteed payment – ($15,000)   How much ordinary business income (loss) will Sparkleberry allocate to Leslie on her Form 1065 Schedule K-1?

Note: use the following fact pattern for the next two questions.   Grace and Henri form a general partnership by contributing the following assets in exchange for 50 percent capital and profits interests (each):   BasisFair valueGrace: Cash$20,000$20,000 Building1$210,000$630,000 Total$230,000$650,000Henri: Cash$150,000$150,000 Total$150,000$150,000   1 The building is secured by a $500,000 recourse mortgage. The partners share economic risk of loss on the mortgage as follows: Henri – 60 percent, and Grace – 40 percent.   How much gain or loss will Grace recognize on the contribution?

Match the factor that influences selective attention to its description

Skill degradation can result from over-reliance on automation in complex tasks.

Humans are sensitive to sounds between which frequencies? (please include units as well).  

Using a high-pitched, synchronous sound in an alarm system helps create a sense of urgency, especially when paired with a falling pitch to indicate that the situation is resolving.

Which of the following statements best distinguishes working memory from long-term memory?

Alarms in a work environment should be designed with varying pitch, envelope, timbre, and rhythm to ensure they are easily distinguishable and within the human’s capability of discrimination.