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Question 22 1 points Which of the following statements is least correct? a. Illegal activities...

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Accounting

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Question 22 1 points Which of the following statements is least correct? a. Illegal activities can constitute the carrying on of a business. Taxpayers do not need to undertake business activities themselves to show they are carrying b. on a business but can employ a manager to run the business. If taxpayers do not commit most of their time to the business activity in question then it unlikely that the activity will constitute a business. The longer a person holds a property the less likely it is that the property is held for the purpose of sale at a profit. Oe. The fact that a venture fails commercially does not automatically mean that the venture was not undertaken to generate a profit. OC d

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