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 recapturein the equipment under §1245.

Question

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 recapturein the equipment under §1245.

Quizplus · Accepted Answer

The Answer of 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 recapturein the equipment under §1245.

The SSC Partnership, a Cash-Method Partnership, Has a Balance Sheet