An entrepreneur starts a business with total revenue of $150,000 and total costs of $112,000 in its first year. What is the entrepreneur's profit for the year?

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Question

An entrepreneur starts a business with total revenue of $150,000 and total costs of $112,000 in its first year. What is the entrepreneur's profit for the year?

Accepted Answer

$38,000 — Profit = Total Revenue − Total Costs = $150,000 − $112,000 = $38,000. Option A incorrectly adds revenue and costs. Option B is the total costs figure alone. Option D is the total revenue figure alone, ignoring costs entirely.

Answer

$38,000

Answer

$112,000

Answer

$262,000

Answer

$150,000

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