Imagine Tom's Annual Salary as an Assistant Store Manager Is

question 23

Multiple Choice

Imagine Tom's annual salary as an assistant store manager is $30,000,he owns a building that rents for $10,000 yearly,and his financial assets generate $1,000 per year in interest.One day,after deciding to be his own boss,he quits his job,evicts his tenants,and uses his financial assets to establish a bicycle repair shop.To run the business,he outlays $15,000 in cash to cover all the costs involved with running the business,and earns revenues of $50,000.What are Tom's accounting profits?

• A) $50,000
• B) $24,000
• C) $35,000
• D) $6,000

---

Definitions:

Metacognitive Skills

The ability to be aware of, understand, and control one’s own learning and thinking processes.

Learning Disability

A situation that causes challenges in gaining knowledge and abilities at the standard anticipated for individuals of similar age, particularly when there's no physical disability involved.

Grade Point Average

A calculated average of a student's academic scores over a defined period, often used as a measure of academic achievement.

Critical Thinking

The goal of critically examining and assessing a matter to reach a decision.