James used $200,000 from his savings account that paid an annual interest of 10% to purchase a hardware store. After one year, James sold the business for 300,000 . His accounting profit is:

Innovation is the process of turning an invention into a marketable product

a. True b. False

Which of the following accounts for approximately three-fourths of all welfare spending?

a. the school lunch program b. the earned income tax credit c. unemployment compensation and workers' compensation combined d. "in-kind" transfers e. cash transfers