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  3. 4. what income tax effect does a partnership's rec

4. What income tax effect does a partnership's receipt of tax-exempt interest and the proceeds...

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Accounting

4.

What income tax effect does a partnership's receipt of tax-exempt interest and the proceeds of key-person life insurance payable on account of the death of the insured have upon the partnership taxable income? Upon the basis of the surviving partners' interests in the partnership?

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