Refer to Scenario 7.2. Your accounting profit last year was

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

Question

Refer to Scenario 7.2. Your accounting profit last year wasA)  $10,000.B)  $30,000.C)  $50,000.D)  $60,000.

Lianne Camilleri · Accepted Answer

Final Answer : C, Explanation :  Accounting profit is calculated by subtracting the explicit costs from the total revenue. In this scenario, the explicit costs are $50,000 (costs for rent and supplies), and the total revenue is $100,000. Therefore, the accounting profit is $100,000 - $50,000 = $50,000.

Refer to Scenario 7.2. Your accounting profit last year was

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

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