What Are the Relevant Factors to Be Considered in Determining

question 3

Essay

What are the relevant factors to be considered in determining whether an activity is profit-seeking or a hobby?

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Definitions:

Indirect Costs

Expenses not directly attributable to a specific product or service but necessary for the general operation of a business.

Deontological Theories

Ethical theories positing that the morality of an action depends on its adherence to rules or duties, regardless of the outcome.

Motives

The reasons or driving forces behind individuals' actions or decisions.

Social Accountability

The responsibility of an organization or individual to consider and report on the social impacts and ethical implications of its activities.