In his spare time, Fred likes to restore old furniture and sell it to his friends. He is a lawyer by trade. During 2017, he sells $500 worth of furniture and has $21,000 worth of expenses. Which one of the following is true?

a. Fred may deduct all $21,000 of his expenses because Fred is engaged in a trade or business.

b. Fred may deduct all $21,000 of his expenses because Fred is engaged in a hobby.

c. Fred cannot deduct any of the expenses because he is engaged in a hobby.

d. Fred's deductions are limited to the income from selling furniture because he is engaged in a hobby.

e. None of these choices are correct.

Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cards—they are allowed to check out as many books as they like.

Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer

When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is