Refer to Scenario 7.1. Your accounting profit last year was

A) $10,000.
B) $30,000.
C) $50,000.
D) $60,000.

Question

Refer to Scenario 7.1. Your accounting profit last year wasA)  $10,000.B)  $30,000.C)  $50,000.D)  $60,000.

Taylor woodley · Accepted Answer

Final Answer : B, Explanation :  Accounting profit is calculated by subtracting total explicit costs from total revenue. In this scenario, the total revenue is $90,000 and the total costs (equipment, rent, and supplies) are $60,000. Therefore, the accounting profit is $90,000 - $60,000 = $30,000.

Refer to Scenario 7.1. Your accounting profit last year was

A) $10,000.
B) $30,000.
C) $50,000.
D) $60,000.

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