Oriole Corporation Has Active Income of $45,000 and a Passive

question 26

True/False

Oriole Corporation has active income of $45,000 and a passive activity loss of $23,000 in the current year.Under an exception, Oriole can deduct the $23,000 loss if it is a personal service corporation.

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Definitions:

Pregnancy Discrimination Act

A federal law in the United States that prohibits discrimination against pregnant women in the workplace.

Maternity Leave

A period of absence from work granted to a mother before and after giving birth to recover and care for the newborn child.

BFOQ Defense

A legal justification used by employers to hire based on specific characteristics, like sex or age, that are normally prohibited by discrimination laws, when it's deemed reasonably necessary to the operation of the business or job.

Fair Labor Standards Act

United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in federal, state, and local governments.