The Following Is an Excerpt from Joseph Stalin's Address to the First

question 52

Multiple Choice

The following is an excerpt from Joseph Stalin's address to the First Conference of Soviet Industrial Managers (Evaluating the Evidence 27.1) : "We are fifty or a hundred years behind the advanced countries. We must make good this distance in ten years. Either we do it, or we shall go under. That is what our obligations to the workers and peasants of the U.S.S.R. dictate to us. But we have yet other, more serious and more important, obligations. They are our obligations to the world proletariat. . . . We achieved victory not solely through the efforts of the working class of the U.S.S.R., but also thanks to the support of the working class of the world. Without this support we would have been torn to pieces long ago. . . ."
In Stalin's view, how far behind the advanced countries was the Soviet Union in the early 1930s?

• A)50 to 100 years
• B)100 to 200 years
• C)5 to 10 years
• D)1 to 2 years

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Definitions:

Net Passive Loss

The total loss from passive activities, exceeding the income from those activities, that cannot usually offset other types of income for tax purposes.

Not a Passive Activity

Activities that involve significant participation and management by the taxpayer, hence not qualifying for tax treatments as passive activities.

Business Loss

A financial state where business expenses exceed its revenue, which can affect tax liabilities.

Deduct

To subtract or take away from the gross amount; in taxation, to lower taxable income by subtracting allowable deductions.