Refer to Scenario 7

question 20

Multiple Choice

Refer to Scenario 7.6 below to answer the question(s) that follow.
SCENARIO 7.6: Upon graduating with an accounting degree, you open your own accounting firm of which you and your assistant are the only employees. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $50,000 annually. Last year you earned a total revenue of $120,000. Rent and supplies last year were $50,000. Your assistant's salary is $30,000 annually.
-Refer to Scenario 7.6. Your annual economic costs are

• A) $50,000.
• B) $80,000.
• C) $100,000.
• D) $130,000.

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Definitions:

Trench Warfare

A method of combat during World War I in which opposing troops fought from systems of trenches dug into the ground.

Battle of the Marne

A significant First World War battle near the Marne River in France in 1914, which resulted in a victory for the Allies, halting the German advance towards Paris.

Triple Entente

An alliance formed in the early 20th century between France, Russia, and Great Britain, which played a significant role in the build-up to World War I.

Triple Alliance

An agreement made in 1882 between Germany, Austria-Hungary, and Italy, forming a powerful bloc that stood until the beginning of World War I.