Myron Worked at a Factory Where He Earned $20,000 Per

question 18

Multiple Choice

Myron worked at a factory where he earned $20,000 per year.He quit his job and opened a bumper sticker business.After one year,his business earned $60,000 in sales revenue and he incurred $30,000 in direct business expenses.If he received no salary from the new business,what is his accounting profit?

• A)$10,000
• B)$20,000
• C)$40,000
• D)$30,000
• E)$60,000

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Definitions:

Equipment Vendors

Companies or individuals that supply machinery, tools, and technical gear to consumers or other businesses.

Lowest Bid

The smallest monetary offer made by a contractor to complete a specified project or service.

Specialized Equipment

Tools or machinery designed for a particular purpose or tasks, often requiring specific training or knowledge to use.

Technical Experts

Individuals with specialized knowledge or skills in a particular area or field, especially in technology or engineering.