Refer to Scenario 7

question 263

Multiple Choice

Refer to Scenario 7.5 below to answer the question(s) that follow.
SCENARIO 7.5: You own and are the only employee of a company that customizes bicycles.
Last year your total revenue was $60,000. Your costs for rent and supplies were $25,000.
To start this business you invested an amount of your own capital that could pay you a $45,000 a year return.
-Refer to Scenario 7.5. Your accounting profit last year was

• A) -$10,000.
• B) $15,000.
• C) $35,000.
• D) $60,000.

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Definitions:

Range

The difference between the highest and lowest values in a set of numbers, indicating the spread or variation within the data.

Heredity

The biological process through which genetic traits are transmitted from parents to their offspring.

Personality Development

The growth and development of the psychological characteristics and traits that define an individual.

Greatest Changes

Significant alterations or transformations in a situation, process, or condition.