Suppose you are thinking of starting your own small business. Consider how your accounting profit is different than your economic profit. a. Accounting profit is different than economic profit because:.
i. economic profit is only important to economists and does not apply to the actual decision to launch a new business.
ii. accounting profit includes all financial and opportunity costs of starting a business.
iii. economic profit is what is reported on your tax return.
iv. accounting profit ignores the opportunity cost of launching a new business.
b. After doing your research, you are confident that you will make an accounting profit if you launch the business but feel it is very unlikely that you will make an economic profit. In this case, you start the business.

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

Thomas kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. thomas's fastest-moving inventory item has a demand of 6,000 units per year. the cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. the average ordering cost is $30 per order. it takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (this is a corporate operation, and the are 250 working days per year.)a) what is the eoq? b) what is the average inventory if the eoq is used? c) what is the optimal number of orders per year? d) what is the optimal number of days in between any two orders? e) what is the annual cost of ordering and holding inventory? f) what is the total annual inventory cost, including cost of the 6,000 units?

Suppose interest rates fall in the united states, but they don't fall in morocco. what is the short-run impact of this change in interest rates on the value of the u. s. dollar (usd), the value of the moroccan dirham (mad), and u. s. net exports (based on the changing value of the dollar)? usd / mad / net exports appreciate / depreciate / increase appreciate / depreciate / decrease depreciate / depreciate / increase depreciate / appreciate / decrease depreciate / appreciate / increase