In june of this year, dr. and mrs. bret spencer traveled to denver to attend a three-day conference sponsored by the american society of implant dentistry. bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. on two days, mrs. spencer attended group meetings where various aspects of family tax planning were discussed. on the other day, she went sightseeing. mrs. spencer does not work for her husband, but she does their tax returns and handles the family investments. expenses incurred in connection with the conference are summarized below. airfare (two tickets) $2,000 lodging (single and double occupancy are the same rate—$250 each day) 750 meals ($200 x 3 days)* 600 conference registration fee (includes $120 for family tax planning sessions) 620 car rental 300 *split equally between dr. and mrs. spencer. if an amount is zero, enter "0". how much, if any, of these expenses can the spencers deduct? mrs. spencer's activities constitute a trade or business. therefore, she can deduct $ of her expenses.

Alandowner and his neighbor purchased adjoining undeveloped lots. after both built homes on their respective lots, the landowner suggested to the neighbor that a common driveway be built where the two lots joined. the neighbor agreed. the landowner and the neighbor split the cost of constructing the driveway and entered into a written agreement to equally share the costs of its upkeep and maintenance. the agreement was recorded in the county recorder's office. two years later, the neighbor built a new driveway located entirely on his lot. the common driveway, which the landowner continued to use but which the neighbor no longer used, began to deteriorate. the landowner asked the neighbor for money to maintain the common driveway, but the neighbor refused to contribute. three years later, the neighbor conveyed his lot to a friend. the friend entered into possession and used only the driveway built by the neighbor. by this time, the common driveway had deteriorated badly and contained numerous potholes. the landowner asked the friend to pay half of what it would take to repair the common driveway. the friend refused. the landowner repaired the driveway and sued the friend for 50% of the cost of repairs. will the landowner prevail?

Which statement best explains the relationship between points a and b? a. consumption reaches its highest point, and then supply begins to fall. b. inflation reaches its highest point, and then the economy begins to expand. c. production reaches its highest point, and then the economy begins to contract. d. unemployment reaches its highest point, and then inflation begins to decrease.

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?