02. Consider the following information about a business Robin opened last year:price - $5: quantity sold - 15,233: Implicit cost $18,000; explicit cost - $33.000.What was Robin's accounting profit?$50,165$61,165$51,000$43,165$25,165O O

Here in this question, we are required to calculate the accounting profit. Account profit is a…

02. Consider the following information about a business Robin opened last year: price - $5: quantity sold- 15,233: Impilicit cost - $18,000; explicit cost-$33.000. What was Robin's accounting profit? O 050, 165 $61,165 O $61,000 O $43,165 $25,165

02. Consider the following information about a business Robin opened last year: price - $5: quantity sold- 15,233: Impilicit cost - $18,000; explicit cost-$33.000. What was Robin's accounting profit? O 050, 165 $61,165 O $61,000 O $43,165 $25,165

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

02. Consider the following information about a business Robin opened last year:
price - $5: quantity sold - 15,233: Implicit cost $18,000; explicit cost - $33.000.
What was Robin's accounting profit?
$50,165
$61,165
$51,000
$43,165
$25,165
O O

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