Refer to Scenario 7

question 143

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 profit is

• A) -$10,000.
• B) $20,000.
• C) $40,000.
• D) $70,000.

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Definitions:

Horizontal Gene Transfer

The (nonsexual) lateral transfer of genetic material from one genome to another within a species or from one species to another species at any taxonomic level, including from a species in one domain to a species in another domain. Compare with vertical gene transfer.

Gene Swapping

The exchange of genetic material between different organisms, leading to genetic variation, often seen in bacteria through horizontal gene transfer.

Genome

The complete set of genetic material present in a cell or organism, including all of its genes.

Evolutionary Divergence

The process by which two or more populations of an ancestral species accumulate independent genetic changes (mutations) over time, often leading to speciation.