Tess Has Started a New Part-Time Business

question 38

True/False

Tess has started a new part-time business.She is concerned that the IRS will call it a hobby if her return is audited.This first year of business showed a small profit,and she expects it to continue to show modest profits.She would like to take advantage of the three out of five year profit rule to shift the burden of proof to the IRS.Because of the three-year statute of limitations,this will not be possible for the first year of business.

Identify the basic characteristics of culture.

Understand the impact of infrastructure, social structure, and superstructure on cultures.

Examine the relationship between cultural practices and political power.

Analyze the effects of globalization on cultural diversity and adaptation.

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Definitions:

Job Knowledge

The understanding and information a person possesses regarding their job duties, responsibilities, and the necessary skills for performance.

Explicit Knowledge

Information or knowledge that is articulated, codified, and accessible in a tangible form, such as documents or databases.

Conditional

Subject to one or more conditions or requirements being met; made or granted on certain terms.

Implicit

Implicit refers to something implied or understood though not directly expressed or stated. It is often contrasted with explicit, which is clear and direct.