Use the Following to Answer Questions

question 142

Multiple Choice

Use the following to answer questions :
Scenario: Accounting and Economic Profit
Rather than put the $100 000 that his grandmother left him in a mutual fund that earns 5% each year,Tommy Wang quit his job,which paid $60 000 per year,and started Wang's Wicker Furniture Store.He rented a showroom for $20 000 for the year,purchased $60 000 in wicker furniture,and incurred costs of $40 000 for sales help and advertising.In his first year,his revenue was $150 000.
-(Scenario: Accounting and Economic Profit) Use Scenario: Accounting and Economic Profit.The accounting profit of Wang's Wicker Furniture Store is:

• A) $200 000.
• B) $60 000.
• C) $30 000.
• D) $0.

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Definitions:

Teenager

A person who is between the ages of 13 and 19; characterized by the transition from childhood to adulthood.

Microcultures

Subgroups within a larger culture, distinguished by its members' shared values, beliefs, and behaviors.

Objectively Measurable Characteristics

Objectively measurable characteristics are attributes or features of an object or individual that can be quantified or evaluated through empirical measurement.

Subculture

A subgroup within a broader society that possesses distinct beliefs or interests that diverge from the mainstream culture.