4. Which of the following can be added to profit to obtain total revenue? a. Net

Question

4. Which of the following can be added to profit to obtain total revenue? a. Net profit b. Capital profit c. Operational profit d. Total cost Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed S30,000 from his uncle, whom he pays 3 percent interest per year. Last year Walter paid $25,000 for supplies and had revenue of $60,000. Walter asked Tyler the accountant and Greg the economist to calculate his painting business's costs. 5. a. Tyler says his costs are $25,900, and Greg says his costs are S66,500 b. Tyler says his costs are $25,000, and Greg says his costs are 65,000 c. Tyler says his costs are $66,500, and Greg says his costs are $66,500. d. Tyler says his costs are $75,000, and Greg says his costs are $41,500.

Explanation / Answer

4.

Total revenue=profit+total cost

so the answer is total cost

the above is the answer

5.

Tyler says costs are=25000+30000*3%=25900

Greg says costs are=25000+40000+30000*3%+20000*3%

=66500

the above are the answers

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