Maury quit his job as an accountant with We Keep Books Accurately to open his own accounting

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Maury quit his job as an accountant with We Keep Books Accurately to open his own accounting firm. He earned $40,000 with the accounting firm We Keep Books Accurately. During the current year, Maury had revenues of $150,000 and total expenses of $110,000; he did not draw a salary.
a. What was Maury's accounting profit?
b. What was Maury's entrepreneurial profit?
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Related Book For  book-img-for-question

Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

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