In Distinguishing Whether an Activity Is a Hobby or a Trade

question 53

Essay

In distinguishing whether an activity is a hobby or a trade or business, discuss the presumptive rule.

---

Definitions:

Social Skills

Abilities essential for successful social communication and interaction, such as empathy, cooperation, and conflict resolution.

GRIT

A psychological trait characterized by persistence and passion for long-term goals.

Reciprocated Conciliatory Acts

Actions or gestures that are made with the intention of reconciling a dispute or disagreement, which are then acknowledged or returned by the other party.

Conflict Resolution

The process of resolving a dispute or a conflict by meeting at least some of each side's needs and addressing their interests.