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Llana [10]
3 years ago
14

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.
Business
1 answer:
insens350 [35]3 years ago
3 0

Answer:

d. The activity shows a profit for 3 of the 5 previous years.

Explanation:

Rebuttable presumptions are assumption in which all facts are considered true unless someone comes and proves it. The activity classified as a hobby if the test is conducted for profits. The activity should show profits in 3 of the past 5 years to be presumed as a hobby. Therefore the correct answer is d.

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Locked-In Real Estate (LIRE) is preparing for their Initial Public Equity Offering (IPO). With its holdings consisting of rent c
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Answer: $62.50

Explanation:

The stock price of Locked-In Real Estate (LIRE) will be calculated thus:

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where,

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What are long-term decisions that set the direction for the entire organization called?a. Tactical b. Operational c. Directional
kvv77 [185]

Answer:

The correct answer is letter "E": Strategic.

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8 0
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When a restaurant prices pizza at $10 per slice they sell 100 slices in a night. If they sell pizza for $5 per slice, they sell
Helga [31]

slope of this demand curve for pizza = <u>-1/40</u>

<h3>Briefly explained</h3>

Slope = changes in y/ changes in x

The shop sells 200 more pizzas if the price drops by $5 ($10 to $5). (100 to 300 pizzas) A good's quantity is always on the x-axis and its price is always on the y-axis. According to our justification, the cost is REDUCED by $5 (a reduction of -$5) and the quantity of pizzas sold rises by 200. The slope is therefore <u>-5/200 or -1/40.</u>

<h3>What is demand curve?</h3>

The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the quantity required over a specific time period.

The price will often be shown on the left vertical axis in a representation, and the amount needed will typically be shown on the horizontal axis.

Learn more about demand curve

brainly.com/question/1139186

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gizmo_the_mogwai [7]
Tim should be in governance.
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3 years ago
Read 2 more answers
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