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Question 9 of 75. Bob and Stuart are equal partners in B&S Banana Goods, a specialty store that sells banana-related merchandise. Bob contributed $16,000

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Question 9 of 75. Bob and Stuart are equal partners in B&S Banana Goods, a specialty store that sells banana-related merchandise. Bob contributed $16,000 in cash, and Stuart contributed inventory with a fair market value of $16,000 and an adjusted basis of $13,000. Which of the following statements about this partnership is TRUE? Bob's basis in the partnership is $16,000 and Stuart's is $13,000. Bob and Stuart each have a basis in the partnership of $16,000. O Bob will have a larger share of the profits than Stuart. Stuart will have a larger share of the profits than Bob.

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