Which of the Following People Are Currently Engaged in a Trade

question 44

Multiple Choice

Which of the following people are currently engaged in a trade or business?
I.Willie devotes 45 hours per week to betting on horse races. Although he intends to win large sums, he has failed to win the big one. He considers his betting activities his job and relies on his meager winnings to support his family.
II.Daryl owns 214 home sites in and around Orlando, Florida. He bought these vacant lots several years ago in hoping that they would appreciate in value so he could sell them at a profit. Because of the recreational activities in the area, the building lots are worth several times his original cost. He is getting the lots ready to sell this year.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

External Locus

A belief system where individuals think that their life events are controlled by external forces or luck rather than their own efforts.

Emotion-Focused Coping

A strategy aimed at managing the emotional response to a problem rather than confronting the problem itself.

Faith Factor

The hypothesis that religious belief and participation can positively affect mental and physical health.

Optimism

Optimism is a mental attitude characterized by hope and confidence in future outcomes or the general belief that good prevails over evil.