Increases in International Trade During the 1980s Created a Need

question 13

Multiple Choice

Increases in international trade during the 1980s created a need for the development of ____________ standards of quality.

• A) universal
• B) country-specific
• C) lower
• D) metric
• E) bilingual

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Definitions:

Form 6198

An IRS form used by taxpayers to determine the amount of loss from an at-risk activity that is deductible.

IRC

The Internal Revenue Code, which is the comprehensive set of tax laws in the United States governing federal tax obligations.

Active Income/Loss

Income or losses generated from direct business activities or employment, as opposed to passive income from investments.

Passive Income/Loss

Earnings from rental property, limited partnerships, or other enterprises in which the individual is not actively involved.