1. Silver Gym had two different kinds of business under operation. One kind of business was discontinued and sold at a gain. How should this gain be reported? A. As "extraordinary gain." B. As "gain from discontinued operation" C. Both of the above D. None of the above. 2. The Robinson suffered damage from a hurricane and had a loss of $10,000. Assuming a tax rate of 10%, what is the effect the loss net-of-tax? A. $1,000 gain B. $9,000 gain C. $11,000 gain D. $9,000 loss. 3. A company had Service Revenue of $120,000, wages expense of $40,000, interest revenue of $3,000, loss on discontinued operations of $12,000, and a tax rate of 20%. What is the amount of income from continuing operations (After tax)? A. $56,800 B. $60,000 C. $66,400 D. $83,000 E. 80,000

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.