The SSC Partnership,a cash-method partnership,has a balance sheet that includes the following assets on December 31 of the current year:
Which of SSC's assets are considered hot assets under §751(a) ?
A) Cash and accounts receivable.
B) Cash and land.
C) Accounts receivable and land.
D) Accounts receivable and inherent recapture in the equipment under §1245.
Correct Answer:
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