Identify which of the following statements is true.
a. any distributive share of a loss that cannot be deducted by a partner because of the sec. 704(d) basis loss limitation is permanently lost.
b. when adjusting a partner's basis in a partnership interest, the negative basis adjustments are made prior to the positive basis adjustments.
c. martin and carlos formed an equal partnership to which martin contributed $10,000 cash and carlos contributed a building worth $10,000 with a basis of $2,000. in the first year of operation, the partnership suffered a $10,000 ordinary loss. martin and carlos can each deduct a $5,000 loss on their personal tax returns.
d. all of the above are false.

Recently, verizon wireless ran a pricing trial in order to estimate the elasticity of demand for its services. the manager selected three states that were representative of its entire service area and increased prices by 5 percent to customers in those areas. one week later, the number of customers enrolled in verizon's cellular plans declined 4 percent in those states, while enrollments in states where prices were not increased remained flat. the manager used this information to estimate the own-price elasticity of demand and, based on her findings, immediately increased prices in all market areas by 5 percent in an attempt to boost the company's 2016 annual revenues. one year later, the manager was perplexed because verizon's 2016 annual revenues were 10 percent lower than those in 2015"the price increase apparently led to a reduction in the company's revenues. did the manager make an error? yes - the one-week measures show demand is inelastic, so a price increase will decrease revenues. yes - the one-week measures show demand is elastic, so a price increase will reduce revenues. yes - cell phone elasticity is likely much larger in the long-run than the short-run. no - the cell phone market must have changed between 2011 and 2012 for this price increase to lower revenues.

Bond j has a coupon rate of 6 percent and bond k has a coupon rate of 12 percent. both bonds have 14 years to maturity, make semiannual payments, and have a ytm of 9 percent. a. if interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds?

What part of the rational model of decision-making does the former business executive “elliott” have a problem completing?