Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following activities would NOT be considered a part of 'business' according to the given definition?
Which of the following activities would NOT be considered a part of 'business' according to the given definition?
- Participating in a club for a membership fee
- Providing services for a fee
- Playing a friendly game of poker with friends (correct)
- Manufacturing goods for sale
What does the term 'ancillary' mean in the context of the given definition?
What does the term 'ancillary' mean in the context of the given definition?
- Involving regular and continuous activity
- Involving activities or transactions without any pecuniary benefit
- Involving activities or transactions related to the primary activity (correct)
- Involving a high volume of transactions
Which of the following would NOT be considered a 'business' activity according to the given definition?
Which of the following would NOT be considered a 'business' activity according to the given definition?
- Providing services as a freelance writer
- Wagering on a sports event
- Volunteering at a local charity (correct)
- Buying and selling goods for profit
Which of the following would be considered an 'ancillary' activity according to the given definition?
Which of the following would be considered an 'ancillary' activity according to the given definition?
Signup and view all the answers
Which of the following would NOT be considered a 'business' activity according to the given definition?
Which of the following would NOT be considered a 'business' activity according to the given definition?
Signup and view all the answers
