Passive Activity Loss Limitation Rules Do Not Apply to

question 66

Multiple Choice

Passive activity loss limitation rules do not apply to
I.Publicly-held corporations.
II.Closely -held corporations.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Ethics

Moral principles that govern a person's behavior or the conducting of an activity, guiding what is right and wrong.

Customer Service

The provision of assistance and advice by a company to those people who buy or use its products or services.

Listening

The act of attentively receiving information through hearing and understanding what is being communicated.

Customer Complaints

Expressions of dissatisfaction or reports of failure in a product or service from customers to the provider.