Match Each Statement with the Correct Term Below

question 9

Multiple Choice

Match each statement with the correct term below.
-Small business stock

• A)A loss that is generally not deductible.
• B)The borrower is personally liable for the debt.
• C)The loss is used to offset income in future periods.
• D)A liability that is only secured by the underlying property.
• E)The loss may be used to offset income from prior periods.
• F)A type of stock that receives some ordinary loss treatment.
• G)Involved in a rental activity for more than 500 hours in a year.
• H)Cash or other assets contributed plus recourse debts of the activity.
• I)Owns at least a 10% interest and is significantly involved in the rental activity.
• J)The amount of the loss for fully destroyed property is the property's adjusted basis.
• K)The amount of loss is limited to the lower of the property's adjusted basis, or the reduction in fair market value.
• L)Management is left to at least one general partner whose liability is not limited and who is responsible for the on-going activities of the business.

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Definitions:

Developing People

Fostering growth and improvement in individuals within an organization through training, mentoring, and providing opportunities for professional development.

Technical Skill

Specific knowledge or expertise required to perform a particular task or job, usually involving methods, processes, or procedures.

Conceptual Skill

The capability to understand complex situations and develop creative solutions by thinking abstractly and seeing the "big picture."

Proficient

Having or showing a high degree of skill or competence in a particular activity or field.