George, an Ophthalmologist, Owns a Separate Business (Not Real Estate)

question 36

Multiple Choice

George, an ophthalmologist, owns a separate business (not real estate) in which he participates.He has one employee who works part-time in the business.Which of the following statements is correct?

• A)If George participates for 500 hours and the employee participates for 520 hours during the year, George qualifies as a material participant.
• B)If George participates for 600 hours and the employee participates for 1,000 hours during the year, George qualifies as a material participant.
• C)If George participates for 120 hours and the employee participates for 120 hours during the year, George does not qualify as a material participant.
• D)If George participates for 95 hours and the employee participates for 5 hours during the year, George probably does not qualify as a material participant.
• E)None of these.

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Definitions:

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The process of analyzing large datasets to identify patterns, correlations, and insights to inform decision-making.

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The practice of tracking social media platforms to gather insights, observe trends, and manage online reputation or customer feedback.

Digital Monitoring

The practice of systematically observing and analyzing digital activities and data, such as social media engagement or website traffic, to gain insights or ensure compliance.

Content Monitoring

The process of overseeing content creation and management operations to ensure compliance, quality, and effectiveness in achieving objectives.