Prepares tax returns and does bookkeeping
Course:- Business Economics
Reference No.:- EM13891971

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Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000, and her expenses for the business were $15,000. When she started her tax and bookkeeping business, Julia gave up her supplemental job doing in-home pet sitting. She used to earn $10,000 per year from pet sitting. Assume that she incurred no costs for her pet sitting business. Refer to Scenario 13-7. Julia’s economic profits are a. $160,000. b. $125,000. c. $150,000.

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