Once an Activity Has Been Classified as Passive,it Is Considered

question 109

True/False

Once an activity has been classified as passive,it is considered passive with regard to that taxpayer until it is sold.

---

Definitions:

Lay Off

The temporary or permanent suspension or termination of employment of an employee or group of employees due to business reasons like lack of work or economic downturns.

Transformational Change

A comprehensive shift in the culture, processes, and operations of an organization, aiming for significant improvements.

Proactive Change

The strategic approach of initiating improvements or transformations within an organization or system before challenges or problems necessitate them.

Big Data

Refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.