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Sam Quit His Job as an Accountant with We Keep

Question 11

Multiple Choice

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 $190,000 and total expenses of $110,000.Sam earned an


A) entrepreneurial profit of $80,000,and an accounting profit of $40,000.
B) entrepreneurial profit of $80,000.
C) accounting profit of $40,000.
D) accounting profit of $80,000 and an entrepreneurial profit of $40,000.
E) cannot tell with the information provided.

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