Which of the following is the correct order in which losslimitation rules are applied?

• Basis rules first, at-risk rules second, passiveloss rules third.

• Passive loss rules ^{first, at-risk rulessecond, basis rules third.}

• Basis rules first, passive loss rules second, at-risk rulesthird.

• Passive loss rules first, basis rules second, at-risk rulesthird.

Answer rating: 100% (QA)

Explanation I The loss limitation rules are applied i... View the full answer