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-Henry Decides to Quit His Job (Earning $50,000 Per Year),take

Question 1

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  -Henry decides to quit his job (earning $50,000 per year) ,take his $60,000 in savings,and open a dry cleaning store.Figure 8-1 shows the revenues and expenditures for his first year of operation.If Henry could have earned $3,000 in interest on the money used to open the store,his accounting profit would have been A) -$13,000 B) -$3,000 C) $20,000 D) $40,000 E) $37,000
-Henry decides to quit his job (earning $50,000 per year) ,take his $60,000 in savings,and open a dry cleaning store.Figure 8-1 shows the revenues and expenditures for his first year of operation.If Henry could have earned $3,000 in interest on the money used to open the store,his accounting profit would have been


A) -$13,000
B) -$3,000
C) $20,000
D) $40,000
E) $37,000

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