Match the Following Business Types with Each Business Listed Below

question 213

Multiple Choice

Match the following business types with each business listed below. Each may be used more than once.
-A hospital

• A)Service business
• B)Manufacturing business
• C)Merchandising business

---

Definitions:

Rental Income

Income received from leasing property to tenants, considered taxable income and must be reported to tax authorities.

Masters Golf Tournament

An annual prestigious golf championship held at Augusta National Golf Club in the United States.

Passive Activity

Economic activities in which the taxpayer does not materially participate, often resulting in income or losses for tax purposes.

Rental Activity

Involves leasing property to others and is often subject to specific tax rules and reporting obligations, including the possibility of passive activity loss limitations.