At partnership inception, Black acquires a 50% interest in Decorators Partnership by contributing property with an adjusted basis of $250,000. Black recognizes a gain if: I. The fair market value of the contributed property exceeds its adjusted basis.
II. The property is encumbered by a mortgage with a balance of $100,000.
a. I only
b. II only
c. Both I and II
d. Neither I nor II

c is the correct answer.

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.

answer; blank(1); autonomous; blank(2) a wlan controller-based architecture;

answer; monopolistic competition;