Which of the Following Can Be Used to Offset a Passive

question 65

Multiple Choice

Which of the following can be used to offset a passive loss?

• A)Active income such as wages
• B)Passive income such as income from a limited partnership
• C)Dividend income from stock held as an investment
• D)Pension income

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Definitions:

Shipping Term

Conditions included in a contract that define the responsibilities, costs, and risks involved in the delivery of goods from the seller to the buyer.

Free Alongside

In shipping, a term indicating that the seller is responsible for the cost of transporting goods to a designated point next to a vessel before loading.

Piracy

is the unauthorized use or reproduction of another's work, often relating to copyright infringement, especially in the context of software, music, and movies.

Registered Ships

Vessels that are officially listed with a specific country's registry to identify the nation of registration and ensure compliance with that nation's laws and regulations.