Scenario 5.1A dentist's practice is organized as a sole proprietorship. Last year the dentist's totarevenue was 5320,000and totalcosts were5250.000.The dentist left a Job paving$112,000 ayear to start the sole proprietorship,Question: According to the information in Scenario 5.1, how much accounting profitdid the dentist make last year?O $320.000O S70.000O $208.000O $112.000

Accounting profit is a company's net income, which is defined as revenue minus costs. Accounting…

Scenario 5.1 A dentist's practice is organized as a sole proprietorship. Last year the dentist's total revenue was $320.000 and total costs were $250,000. The dentist left a job paying $112,000 a year to start the sole proprietorship. Question: According to the information in Scenario 5.1, how much accounting profit did the dentist make last year? O $320,000 O $70,000 O $208.000 O $112,000

Scenario 5.1 A dentist's practice is organized as a sole proprietorship. Last year the dentist's total revenue was $320.000 and total costs were $250,000. The dentist left a job paying $112,000 a year to start the sole proprietorship. Question: According to the information in Scenario 5.1, how much accounting profit did the dentist make last year? O $320,000 O $70,000 O $208.000 O $112,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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