Which of these statements regarding the valuation of a limited partnership interest holding undeveloped real estate is CORRECT? Only a discount for a minority interest is permitted. Only a discount for the lack of marketability is permitted. Discounts for lack of marketability and a minority interest are permitted.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 7MC: Which one of the following would not be considered in the development of a partnership agreement? A....
icon
Related questions
Question

Which of these statements regarding the valuation of a limited partnership interest holding undeveloped real estate is CORRECT?

  1. Only a discount for a minority interest is permitted.
  2. Only a discount for the lack of marketability is permitted.
  3. Discounts for lack of marketability and a minority interest are permitted.
  4.  
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Partners and Partnerships
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage