Business, 27.02.2020 22:42 hannahbaak
In determining whether an activity should be classified as a hobby, the tax law provides a rebuttable presumption with regard to the profits or losses of an activity. Which of the following statements describes the profit/loss test which must be satisfied in order to meet the presumption that the activity is not a hobby?
a. The activity shows a profit for 3 of the 7 previous years.
b. The activity shows a loss for 3 of the 7 previous years.
c. The activity shows a loss for 3 of the 5 previous years.
d. The activity shows a profit for 3 of the 5 previous years.
e. None of these choices are correct.
Answers: 2
Business, 23.06.2019 08:00
Ray gives his son, mason, three bowls. these bowls have the same capacity, but each one differs slightly in its shape and size. ray tells his son that one of the bowls can hold more liters of oil than the other two bowls. mason points out that all the bowls, though may appear different in size and shape, can store the same volume of oil. in this case, ray was most likely testing mason's concept of
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Business, 23.06.2019 11:40
An airline estimates that 98% of people booked on their flights actually show up. if the airline books 61 people on a flight for which the maximum number is 59 (the capacity of the plane), what is the probability that the number of people who show up will exceed the capacity of the plane?
Answers: 1
Business, 23.06.2019 12:00
An increase in mexico’s demand for united states goods would cause the value of the dollar to
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In determining whether an activity should be classified as a hobby, the tax law provides a rebuttabl...
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