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The price elasticity of demand for widgets is 1.1 and the quantity demanded is 5,000 units. The price increases by 8%. What is the new quantity demanded?

Sam rents his second home. During the current year, he reported a $40,000 net loss from the rental. Assume Sam actively participates in the rental activity and no phase-out limitations apply. What is the greatest amount of the rental loss that Sam can deduct against ordinary income in the current year?

Brick Co. has considerable excess manufacturing capacity. A special order's cost sheet includes the following applied manufacturing overhead costs: fixed, $18,000; variable, $43,000. The fixed costs include a normal $3,600 allocation for in-house design costs although no in-house design will be done. Instead, the job will require the use of external designers costing $4,500. What is the total amount to be included in the calculation to determine the minimum acceptable price for the special order?

The account that records expenses, gains and losses is

Select all that apply: When applying the revenue test to determine if a segment is a reportable segment, the segment's revenues are compared to the total for the entity. Which of the following revenue items should be included in the revenue calculation?