An investor would purchase an oil and gas limited partnership for all of the following reasons EXCEPT:

  1. The oil depletion allowance
  2. Intangible drilling costs
  3. Tax incentives
  4. Recapture provisions

The subscription agreement for a limited partnership would specify all of the following EXCEPT:

  1. Suitability standards
  2. Priority provisions upon liquidation
  3. To whom the check must be made payable
  4. Who must sign the agreement
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20. Direct Participation Programs

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Created: 2013-06-16
Updated: 2013-06-16
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