Rick, a Computer Consultant, Owns a Separate Business (Not Real

question 105

Multiple Choice

Rick, a computer consultant, owns a separate business (not real estate) in which he participates. He has one employee who works part-time in the business.

• A) If Rick participates for 500 hours and the employee participates for 620 hours during the year, Rick qualifies as a material participant.
• B) If Rick participates for 550 hours and the employee participates for 2,000 hours during the year, Rick qualifies as a material participant.
• C) If Rick participates for 120 hours and the employee participates for 120 hours during the year, Rick does not qualify as a material participant.
• D) If Rick participates for 95 hours and the employee participates for 5 hours during the year, Rick probably does not qualify as a material participant.
• E) None of the above.

Differentiate between ethical principles, codes, regulations, and guidelines.

Comprehend the basics of tort law and its relevance to professional practice.

Grasp the concept of dilemmas in professional ethics and how to navigate them.

Describe the definition, scope, and application of ethics in a professional context.

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Definitions:

Detected Stimuli

Sensory input from the environment that is recognized and processed by the nervous system.

Signal-Detection Theory

The theory that perceiving or not perceiving a stimulus is actually a judgment about whether a momentary sensory experience is due to background noise alone or to the background noise plus a signal.

Classical Psychophysical

Relates to the traditional study of the relationships between physical stimuli and the sensations and perceptions they produce.

Sensitivity

The capacity to perceive, feel, or be aware of stimuli or changes in the environment; can also refer to the degree of responsiveness to social or emotional matters.