If partner|ship debt is reduced and a partner is deemed to receive a cash distribution, what impact does the deemed distribution have on the partner if it is in excess of her tax basis?

A. The partner will treat the distribution in excess of her basis as ordinary income
B. The partner will treat the distribution in excess of her basis as capital gain
C. The partner will not ever be taxed on the distribution in excess of her basis
D. The partner will not be taxed on the distribution in excess of her basis until she sells her partnership interest

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

crow design, inc. is a web site design and consulting firm. the firm uses a job order costing system in which each client is a different job. crow design assigns direct labor, licensing costs, and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. direct labor hours (professional) 6,250 hours direct labor costs ($1,800,000 support staff salaries ,000 computer ,000 office ,000 office ,000 in november 2012, crow design served several clients. records for two clients appear here: delicious treats mesilla chocolates direct labor 700 hours 100 hours software licensing $ 4,000 $400 travel costs 8,000 1. compute crow design’s direct labor rate and its predetermined indirect cost allocation rate for 2012. 2. compute the total cost of each job. 3. if simone wants to earn profits equal to 50% of service revenue, how much (what fee) should she charge each of these two clients? 4. why does crow design assign costs to jobs?