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.
Correct Answer:

Verified
Correct Answer:
Verified
Q71: According to the profit-maximizing principle of marginal
Q76: A person who is risk averse:<br>A)always makes
Q79: If at a given quantity MB =
Q86: Wendy sells ice-making machines.She can sell six
Q118: Use the following to answer question: <img
Q137: You have rented your first apartment,signing a
Q140: Use the following to answer questions :<br>Scenario:
Q145: Use the following to answer questions :<br>Scenario:
Q146: Some highways have one lane;others have two,three,or
Q147: Which type of behaviour is a systematic