Ahmad Owns Four Activities

question 64

Multiple Choice

Ahmad owns four activities. He participated for 120 hours in Activity A, 150 hours in Activity B, 140 hours in Activity C, and 100 hours in Activity D. Which of the following statements is correct?

• A) Activities A, B, C, and D are all significant participation activities.
• B) Activities A, B, and C are significant participation activities.
• C) Ahmad is a material participant with respect to Activities A, B, and C.
• D) Ahmad is a material participant with respect to Activities A, B, C, and D.
• E) None of the above.

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Definitions:

Title of Goods

A formal documentation or legal term indicating ownership rights over goods.

Express Contract

A contract explicitly stated by the parties, either orally or in writing, detailing the terms clearly.

Contract Formed

refers to the creation of a legally binding agreement that arises when an offer by one party is accepted by another party, meeting the necessary legal requirements.

Unilateral Contract

A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.