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Accounting and entrepreneurial profit

Sam quit his job as an accountant with We Keep Books Accurately to open his own accounting firm. He earned $40,000 with the accounting firm We Keep Books Accurately. During the current year, Sam had revenues of $150,000 and total expenses of $110,000. Sam earned an:

a. accounting profit of $40,000.

b. accounting profit of $40,000 and an entrepreneurial profit of $40,000.

c. entrepreneurial profit of $40,000, but had an accounting loss.

d. entrepreneurial profit of $40,000.

e. both a and d above are correct.

Operation Research, Management Studies

  • Category:- Operation Research
  • Reference No.:- M925878

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