9. which, if either, of the following statements is or are false? i. tax exempt income received by a partnership, for example, municipal bond interest, does not increase a partner’s basis in his/her partnership interest because the income is not taxable. ii. a partner who receives a current property distribution (other than cash), made pro rata to all the partners, will not have to report a gain with respect to the distribution. a. i only. b. ii only. c. both i and ii. d. neither i nor ii.

The company is experiencing an increase in competition, and at the same time they are building more production facilities in southeast asia. in this scenario, the top management team is most likely to multiple choice increase the cost of their products. restructure to reflect a more bureaucratic, stable organization. pull decision-making responsibility from low-level management, taking it on themselves. give lower-level managers the authority to make decisions to benefit the firm. rid themselves of all buffering product.