A Normal Profit for a Self-Employed Entrepreneur Is I

question 312

Multiple Choice

A normal profit for a self-employed entrepreneur is I. an opportunity cost.
II) part of the implicit rental rate of the funds invested in the business.

• A) only I
• B) only II
• C) both I and II
• D) neither I nor II

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Definitions:

Annual Depreciation

The allocation of the cost of a tangible asset over its useful life, reflecting the decrease in value due to wear and tear.

Monthly Basis

A timeframe or schedule that involves events or payments occurring once every month.

Prepaid Expense

Expenses paid in advance for goods or services which will be received in the future.

Unearned Revenue

Money received by an entity for a service or product yet to be delivered or performed.