Generally, for an Activity to Be Treated as a Trade

question 1

Multiple Choice

Generally, for an activity to be treated as a trade or business, which of the following is required:​

• A)​Always generate a profit
• B)No more than intermittment effort toward the activity
• C)​Regular and continual effort designed to seek profit
• D)​Organization as a corporation or partnership

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Definitions:

Aggregate Expenditure

The total amount spent on national-level goods and services in an economy.

Disposable Income

Income available to households after accounting for taxes and social security charges, available for spending or saving.

Gross Domestic Product

The total market value of all final goods and services produced within a country in a specific time period.

Aggregate Expenditure

This is the total spending on final goods and services in an economy, including consumption, investment, government purchases, and net exports.