Business, 12.01.2021 18:10 simoncastro1

Use the information below to answer questions 1 through 5. Assume you gave up a $60,000 per year job at an accounting firm to start your own tax Jou run your own firm or work for another firm.
1. If your revenue during the first year of business is $75,000, and you incurred $5,000 in preparation business. To simplify, assume your tax personal obligations are the same whether expenses for equipment and supplies, how much is your accounting profit?
2. If your revenue during the first year of business is $75,000, and you incurred $5,000 in expenses for equipment and supplies, how much is your economic profit?
3. If your accounting profit is $60,000, much is your economic profit?
4. If your revenue during the first year of business is $60,000, and you incurred $5,000 in expenses for equipment and supplies, how much is your accounting profit?
5. If your revenue during the first year of business is $60,000, and you incurred $5,000 in expenses for equipment and supplies, how much is your economic profit?

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Use the information below to answer questions 1 through 5. Assume you gave up a $60,000 per year jo...

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