Sam Quit His Job as an Accountant with We Keep

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) entrepreneurial profit of $40,000, but had an accounting loss.
C) accounting profit of $40,000 and an entrepreneurial profit of $40,000.
D) entrepreneurial profit of $40,000.
E) Both A and D above are correct.