Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $60,000 anually. Last year you earned a total revenue of $100,000. Rent and supplies last year were $50,000.

Personal Finance
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ISBN:9781337669214
Author:GARMAN
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Chapter2: Career Planning
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SCENARIO 7.3: Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $60,000 anually. Last year you earned a total revenue of $100,000. Rent and supplies last year were $50,000.
12) Refer to Scenario 7.3. Your annual economic costs are
A) $110,000. B) $60,000. C) $50,000. D) $0

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