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Wallace owns five activities. He elects not to group them together as a single activity under the appropriate economic unit standard. He participates for 110
Wallace owns five activities. He elects not to group them together as a single activity under the "appropriate economic unit" standard. He participates for 110 hours in Activity A, 150 hours in Activity B, 100 hours in Activity C, 99 hours in Activity D, and 240 hours in Activity E. Which of the following statements is correct? a. Wallace is a material participant with respect to Activities A, B, C, D, and E. b. Wallace is a material participant with respect to Activities A, B, and E only. C. Activities A, B, C, D and E are all significant participation activities. d. Activities A, B and E are all significant participation activities. e. None of the above
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