Which of the following aspects of Protestantism paved the way for the subsequent emphasis on individual economic and political freedom?
a) the emphasis on experiencing worldly pleasures
b) the promise of salvation in the next world rather than this world
c) the emphasis on individual religious freedom
d) the emphasis on individual purity and focus on spiritual rather than economic pursuits
Ans: c) the emphasis on individual religious freedom
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Sam 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, Sam had revenues of $150,000 and total expenses of $110,000. Sam earned an A) accounting profit of $40,000. B) entrepreneurial profit of $40,000, but had an accounting loss. C) accounting profit of $40,000 and an entrepreneurial profit of $40,000. D) entrepreneurial profit of $40,000. E) Both A and D above are correct.
Chopra, Limited, is an Indian company operating in New York state. It offers stylized, boutique public relations services to upscale retailers in quaint New England towns. A major source of revenue is a weekly newsletter that reports on current and projected tourist travel and spending patterns. Preparation of the newsletter requires study and analysis of weather conditions, economic activity,
and travel costs. It is available at an annual subscription rate of $299.99. There are currently 190 subscribers. Preparation and distribution of the newsletter costs $12,000 annually. Chopra has always been able to manage to keep its newsletter operation above their breakeven point. The value of information to Chopra is A) $236.83. B) $44,998.10. C) less than $63.16. D) at least $12,000.