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The Partnership of Truman and Hanover Realized the Following Items \quad

Question 45

Multiple Choice

The partnership of Truman and Hanover realized the following items of income during the year ended December 31,2013: Net income from operations \quad\quad$62,000\quad \$ 62,000
Dividends from domestic corporations $4,000\quad \$ 4,000
Interest on corporate bonds \quad\quad $3,000\$ 3,000
Net long-term capital gains \quad\quad$5,000\$ 5,000
Net short-term capital gains \quad $1,000\quad \$ 1,000 Both the partners are on a calendar year basis.What is the total income which should be reported as ordinary income from business activities of the partnership for 2013?


A) $62,000
B) $65,000
C) $69,000
D) $70,000
E) None of the above

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