Badges of Trade Flashcards
1
Q
Subejct matter?
A
Some assets are commonly held for their intrinsic value
2
Q
Length of ownership?
A
Items sold soon afterwards
3
Q
Frequency of transactions?
A
Frequency indicates carrying on of a trade
4
Q
Work done?
A
Work is done to make asset more marketable
5
Q
Circumstances of realisation?
A
A forced sale is not likely to be treated as trading
6
Q
Motive?
A
Absence of a profit motive
