Mr. smith, a cash-basis, calendar-year taxpayer, owns a duplex. he lives in one unit and rents the other unit to an unrelated individual. the two units are approximately equal in size. on july 1, year 1, mr. smith paid the property insurance on the duplex for the 3-year period july 1, year 1, through june 30, year 4. the total premium was $360. for year 1, mr. smith’s rental expense for this insurance policy isa. $30
b. $60
c. $120
d. $360

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Rosie and her brother michael decided recently to purchase an rv together. they both want to use the rv to take their families camping. the price of the rv was $10,000. since michael expects to use the rv 60% of the time and rosie 40% of the time, michael contributed $6,000 and rosie contributed $4,000. their ownership percentage equals their contribution percentage. which type of property titling should they use to reflect their ownership interest?

Companies under market structures are independent